You can, but I think you'll find after finally working up an accurate load with the two variables you mention (175 SMK's & Varget), you'll end up with a load that's > 43.0gr of powder. So, why not start with 43.0gr initially and work up. I'm sure you could find a node in the 42.0gr region, but your velocity will be pretty low. The eternal quest is to find the load that is primarily, accurate, and secondarily, as fast as you can get it and still maintain the accuracy you want. I think 43.0gr of Varget under a 175 SMK will be pretty 'safe' to start with, but that said,... EVERY rifle is different and you need to use your own best judgement and experience to determine what's best.
In regard to that little exercise I mentioned of loading up incremental rounds (43.0, 43.5, 44.0,..etc.) and examining the primers, also grab a fired case of factory ammo and compare to those hand-loads,... Factory ammo is typically well within safe tolerances, but there are certainly hotter loads than others. The idea being, to see how the effects of a factory load on the primer in comparison to your hand loads. Of course, the factory is more than likely using a different primer than you are, and that is no small matter when developing a load, but it will give you an indication of 'how far' an ammunition manufacturer is willing to take their offerings in regard to how hot a load is. Some primers on factory loads can get pretty flattened. I guess in closing, just try to make a habit of always examining your primers whether you're shooting hand-loads or factory,... it will at least serve to build that mental database in your head as to what's what,...
Oh, and somebody mentioned a great tell-tale sign: BOLT-LIFT! If you find your bolt is getting sticky when trying to eject a spent round, you're definitely at this upper limit,... STOP! However, you'll have known you're approaching the 'sticky bolt' well before reaching it if you're examining your primers,... Also, blown primers and/or black carbon around the seam of the primer in the primer pocket - definitely a warning sign
Ry