There are several different types of "screw in" bolster's.
Not knowing what rifle you have makes it difficult to say exactly what you are dealing with.
If it is a CVA or a Traditions, a cross-section thru the breech looks like this.
Notice, if you remove the "drum" you will end up with a huge hole to fill.
Obviously not the way to go.
With breeches like this, the best way to do it in my opinion is to cut off the protruding area of the drum and file it flush with the barrel's side flat. Then, run a tap drill into what's left of the flame channel (the hole that goes to the rear of the bore), and then thread the new hole for the thread size that is on your newly purchased vent liner.
The location of your new vent liner to the lock is pretty much fixed. That is, you can't do much to change its location but if you can find a CVA or Traditions flint lock to replace the percussion lock, it will be very close to the correct place.
One of the nice things about building a flintlock is, the location of the vent hole isn't too important.
As long as it is above the bottom of the pan and below the top of the "lid" on the frizzen when it is closed and somewhere between the front and rear of the pan, it will work. Of course, the closer it is to the middle of the pan and in line with the top surface of the pan (with the frizzen forward) the better but if it is off a bit, it will still work.
Now, if your gun is a custom made one, your barrel will most likely look like this:
If this is the case, you can just remove the drum and screw a flintlock vent liner into the barrel.