That is great information, i am glad for your feedback i will order this size 295/55/20, will it be possible to skip the Spacer, will that have a negative impact if i go without spacers?
It has a chance to fit without spacers and may come down to the specific tire you choose and how aggressive the shoulders of the tire carcass is. It'll be close to the upper UCA.
That said, if I can appeal to some other considerations. Suspension geometry is keyed to tire size, specifically scrub radius. It's why OEM fitment RockWarrior with 285/70R17s, having similar overall dimensions of 32.7"x11.2", have built in offset of +50 (vs stock +60). Also, with a tire lift, COG increases. Some added track width with less offset can help for cornering stability.
Optimally, a 295/55R20 would have wheels having a ~48mm offset. Pairing stock wheels with a .75" spacer puts it at a pretty good +42. I believe Bora has .75" spacers in 5x150 PCD that fits our rigs.
Though if you can get 295/55R20s to clear without spacers, it'll still work pretty darn well.