Steering wheel restoration question on finish

[Kube]

Your wheel, albeit a very nice example has little to no original finish remaining.
I suppose what you do with it is dependent on what outcome you desire.
You do mention "restore" in your post... that leaves no option but to bring it back to its authentic appearance.
I can't help but restore everything to as close to perfection as I am able. That's me.

When I restore these wheels, I use an epoxy primer. I clean it very well with PrepSol.
If there are any spots that need filling, I use a flexible filler designed for modern day plastic bumper covers.

I've attached a photo of one of the wheels I'd restored. Although a '39 deluxe, it should allow you a good example of what "restored" appears as.