I ran into this years ago when my 4th gen leather wheel was starting to thin/wear through the lacquer in some spots.
I ultimately went with an aftermarket steering wheel that actually looked and felt better than my factory one. It ended up being about $350-ish if I remember right? The overseas company I bought it from (I think it was an ebay store at the time?) Sold everything from factory replacements to "upgraded/sportier" creations like I got. It's held up great for the past 6-7yrs? I think I may need to touch up a spot or two from my hand always being there, but it looks good.
It's a pricier option, but if you don't want to deal with wetting, stretching, and stitching your own cover on the wheel it was much cheaper than a new factory wheel ($800-ish back then if I remember right.)
Post Note-
Looks like they're still in business?
LANDCRUISR-F100 | TOP SAGE INTERNATIONAL CO.LTD.
I'm on my phone so it doesn't seem navigate well, but that's who made/sold my steering wheel that I installed in my build thread.