visit a steel fabrication place. Have 'em make a new, MUCH BIGGER lug nut cover-- big enough to cover all 5 lug nuts (by enough to prevent ANY socket set from getting in there) at the same time.
I'll swag that job at $80-$150, if they have the heavy 2-1/8" (INTERNAL size) square stock on hand. (If they have to cut off and re-use the square tubing from your current plate, cutting the welds probably costs a tiny bit more than cutting a new segment of tubing. But the bigger hassle is, the current tubing is already painted, and that's gotta be clean to weld onto the new plate.)
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Breaking the welds on the current plate still leaves it surrounding the INNER tubing, but it can be pulled away from the wheel (leaving the "sleeve" behind) and expose the lug nut underneath the plate-- at least by another 1-1/4", plus a bit of "tilting" action around the smaller INNER tubing square bar.
I wouldn't attack these welds, which merely expose the lug nut (I'd instead attack one of the corner arms of a "main bar" and totally disable the lock). But someone less smart might choose this attack. If you're gonna replace the plate and use a new "sleeve" made from fresh steel anyway, you've got a great opportunity to make it MUCH better:
Have them make the square tubing about 1/2" LONGER than needed, and then CUT that 1/2" off from each corner. (remove ALL of the bent portion at each corner, leaving four small rectangles. Bend these rectangles to create tabs for the underside, which hold the new sleeve in place from underneath. Grinding and cutting the top welds still leaves the strong bottom weld(s) undisturbed. So Mr. Thief won't be able to separate the sleeve away from the plate anymore, the plate can't be pulled away. Not at all, and he can't even do any shaking
And If you have them weld these tabs, as I would (even just one or two of the tabs on the "big" side of the plate), then it's darn near indestructible: They can't get at those welds, and even the "tiny bit of shaking" is disabled.
Bending this HEAVY stuff (I think it's a full 1/8", by the way, not 'merely' 3/16") takes a super-strong bender, you might ask if they can create a 90-degree bend in 1/8" steel stock 1-7/8" wide, creating only 1/2" on the working end, before you even go. I'd stand no chance of doing this with even 3/16" at home, and would have to create a much longer tabs initially and then cut them down to size after the bending. (More cuts, more $$$.) And of course, they MUST have the heavy square tubing stock (in this size) first, or they'll need to create THAT by bending and welding, too.
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You know, maybe the factory would be willing to fabricate this replacement plate. (And maybe they'll be interested in offering the more secure "attached by welded tabs underneath" lug cover plate as an upgrade, or modify their design to incorporate this higher protection.) Feel free to quote either/all of my posts in emails to them (and tell 'em these ideas and concerns about the 14" wheel are from Rick Stockton, who's delighted with his on the 15" wheel and says hi
)