I think it should be fine; you'll get a little more spread with butter so if you can chill the cut out cookies that will help. The recipe has you rest the dough overnight to help hydrate the flour; we do this with our gingerbread cookie dough (which is from Rose's Christmas Cookies, we routinely scale this up to a 9x batch size and mix in our 30 qt Hobart) and it's an all butter recipe. If you find this recipe online, it's easy to make, and the taste is not too spicy so it's fine for kids and adults.
Edited to add: you will likely have to remake the hole when you take them out of the oven; do this before the cookies cool
