I use 1/4 drill bit for a 5/16 lag screw in most materials.
I use a 3/16 drill bit for that.
If they are self tapping screws, the drill bit is as thick as the solid barrel of the screw. If you want the screw to go through easily to have a nut on the other side, then the drill bit is slightly larger than thread size.
I drill a pilot hole the size of the 'barrel' of the screw. -I always use a combination drill bit for sinking screwheads. The first part of the bit is the diameter of the 'barrel' of the screw and the step, one inch higher is the size of that screw's head. (The barrel is the diameter inside threads) -I have a set of these drill bits for #6, #8, and #10 screws and they are great.
#4 Screw use a 1/16" Drill #6 Screw use a 3/32" Drill #8 Screw use a 1/8" Drill #10 Screw use a 9/64" Drill #12 Screw use a 11/64" Drill #14 Screw use a 3/16" Drill
Use appropriate sized drill bit to drill completely through the stuck screw and retap the hole if new screw is necessary.
A 3/16 drill bit.
It really depends on the material you are drilling. Thinner material will use a smaller pre-drill bit. Try drilling a sample hole on a piece of scrap or where it will not be visible Then try your screw. Adjust your hole size if necessary
I would use a 5/8 drill bit which is almost exactly 16mm.
0.31 inchANS 2 - or, in fractions, 5/16 ths
You use a 0.875 bit or a 7/8 bit . They are the same size.
4.5 mm is close enough to 3/16 to use that if you don't have a 4.5 drill bit