No, the tread does not fold if the pressure is sufficient to support the truck. If it did, the tire would be off the wheel. The tread is a fixed length, it doesn't stretch or contract more than a fraction of an inch.True. However tire DO fold and distort when under inflated no?
Not enough to make up for a significantly smaller tire. The computer can measure fractions of RPMs over many miles and determine a difference, however slight. The difference in circumference of a 31.5" vs a 33" tire is over three and a half inches. You're not going to make up for that with some tire scrubbing.Altering the pressure does change the tire's radius. The tire's tread will squirm and wear quicker to accommodate. Take a look at the early style, 1st generation, indirect tire pressure monitors. They measured a difference of tire rotation via ABS sensors. There was no tire pressure sensor. The under inflated tire will have a slightly smaller diameter (and present as more rotations to the ABS/wheel sensor).