I have procrastinated long enough I don't have time to get the the AOI ring before my next trip, so I have dremeled down the base (i.e. the part with teeth) of the Olympus gear to be about 3.5mm thick and it seems to work OK-ish on land. It is definitely fussy about placement, so we'll see if works at depth. In the worst case I can just use autofocus, which I mainly did anyway on my old E-M5-II, which had noticably worse autofocus than the new OM-1. I did notice that the outer diameter of the gear on the Olympus part is a bit actually larger, which was a surprise.
It's not completely rational to worry about the price (given the cost of the system), but the sticker shock for the focus rings (USD 65 for a piece of plastic that looks 3D printed) is even worse when you convert to Canadian dollars. I guess Olympus accessories are similarly "luxury priced", but the finishing seems a bit more convincing.