Yes, the 500 Jeffery can be built on a standard M98 action, or a Winchester M70 LA, RH or LH.
I have .510 caliber wildcats built on both of those action
(FN M98 with Duane Wiebe .500 Jeffery bottom metal
and M70 Classic RUM action with Sunny Hill drop floor plate in McMillan stock designed for it).
Both of those use the .416 Rigby or .338 Lapua Magnum bolt face.
But ...
Do you have a .458 Winchester Magnum ?
Here is what I said to one person recently who scoffed at the .458 WinMag:
"Bless your heart.
You either have a case of Bore Envy Syndrome (BES), which is akin to an inferiority complex,
or Chronic Traumatic Encephalopathy (CTE) if not low IQ before you even pulled a trigger.
A good psychiatrist can help you with BES, but those are hard to find, as most shrinks are crazier than their patients.
They do prescribe drugs, and you might get lucky and get some help from the right medicine, if the side-effects don't make you worse.
Sometimes the only real treatment for BES is a religious conversion.
Have faith in the .458 Winchester Magnum and you will overcome your delusions of grandeur.
If you have CTE it will only be confirmed by autopsy of your brain to include microscopic studies.
But the treatment is just the good, clean living and a good social support system, like we all should strive for.
Will your family take you back in when it gets tough to care for yourself ?
Relying upon the .458 WinMag for elephant hunting instead of a .458 Lott or bigger bore
has been shown to slow the progression of CTE.
Low IQ: Most morons can choose to be happy, and a few idiots too.
Get a .458 WinMag and be happy."
I must confess that I own many rifles more powerful than the .458 WinMag.
Among them a .458/.416 Ruger WM-Throated, .458/.338 Lapua Magnum Unimproved, 470 Capstick, 470 Mbogo, 12.7x68mm Magnum, .505 Gibbs, .500 Jeffery, .500 Bateleur, .500 Mbogo, 20ga From Purgatory 3.5" (aka .615 NE), 12ga From Hell 3.85" (aka .730 NE).
That last one knocked my socks off with a 1400-gr conical slug at 1800 fps, and it can be loaded to higher MV, no thanks !
Do the .408 Chey-Tac, .416 WeatherbyMag, .416 Barrett and .50 BMG count ?
When you have BES they do !
Notice I did not mention my one .458 Lott, made by re-chambering a .458 WinMag,
since it is only of same level as a .458 WM+.
The SAAMI .458 Lott is less powerful than the .458 WM+.
.458 WM+ loads may be fired in any SAAMI .458 WinMag but may be unsafe in a SAAMI .458 Lott.
I have been cured of BES by my religious conversion to the .458 Winchester Magnum Faith.
When the chips are down I would want nothing other than a .458 WinMag in my hands.
Now, anything other than a .458 WinMag is just a toy for me.
I confess it took me 21 years to assemble a .500 Jeffery starting with a set of handloading dies purchased in Rapid City, SD when I was just passing through town
in a delirious state of BES.
I realized what a weird duck the .500 Jeffery was and finished it up as a joke, a conversation piece.
Like for this conversation right now. Heh-heh-heh.
Live long and prosper and don't get CTE.
PS:
Forgot to mention the two .500 A-Square rifles I had built in 1999.
And the .450 Barnes Supreme I had built in 1987.
And the 460 WbyMag MK V purchased in 1984,
and another 460 WbyMag "custom" BBK-02 I had built in1993.
I converted to the .458 Winchester Magnum Faith as a true believer in 2017.
That was 33 years (1984 to 2017) before I was cured of BES.
Amen.