Remove the slug from the case. Use a drill press and a #12 drill bit to auger a hole into the tip of the bullet. Don't drill through; stop about an 1/8" before the bottom. Best to use a lathe to stay centered and consistent, but a pair of vise grips and drill will work.
Now take a #10 cobalt drill bit and cut it (or break it) to a length so it'll press into the hole flush with the tip. The interference fit won't let it slip out. You will have to score either the hole, or the projectile, along the length on one side. This is to allow the atmosphere to displace as the drill bit section is pressed into the bullet.
Do not sharpen the drill bit. It will penetrate better with a very blunt squared off end.
Now you have a lighter, faster projectile. The drill bit will penetrate. The "husk" will ricochet. Be careful.
EDIT to add..........You should probably use smaller bits with the calibers you mention in your post. Use the chuck end of the bit, not the fluted section. I'm also assuming that you have access to reloading equipment to re-crimp the case neck.
