Creating inlays / outline with large bits. (Puzzle Hole / piece etc)

So I’ve been looking at using a few of the icons, routing them out on my 3018, and then outlining the same bit in another bit of timber to insert into the hole. However the quality to do this greatly depends on the bit diameter. Is there any way the software can do an outline based off the outputted g-code or shape of the first design, taking into consideration the bit diameter? that way the outline is based on what was cut and the two will fit.

thanks,
B

Easel has an inlay app for what you are asking.
They also have a video I believe.