My only .222 has a 14" twist, which is pretty standard for that round.
This table says specifically that your 24-V has a 14" twist. Mine shoots the 53 grain flat base Sierra MatchKing well, but not the 55 grain boattail MatchKings, which are too long for that twist rate and open the groups up from 3/8" to 1 inch at 100 yards. That same sort of length and weight limitation will apply to you if you ream the chamber for .223 or get the NATO chamber or the Wylde chamber (that shoots either one reasonably well). You will be able to shoot surplus ammo with 55 grain bullets, but the 62 grain and any heavier bullets will not play nicely, though you may still hit things with them at shorter range. For handloading a 40 grain Hornady V-max or a 50 grain spire point or the flat base 53 grain match bullet I mentioned will be fine, but this will never be a gun for the longer, higher ballistic coefficient bullets needed for long range. Since the 24-V also exists a .223 version, I see no reason the conversion can't work.