The good news is that drilling the initial hole is the most difficult and riskiest part of drilling into a porcelain sink.
How to grind ceramic sink.
Move the porcelain sink to an outdoor location if possible.
If the porcelain is coating cast fe and the sink bottom is flat you might consider a mag drill.
It will grind down a ceramic tile or object with precision.
Start out very slowly with the grinder set on a medium speed until you can get a feel of how fast the tile will grind.
Set a water filled 1 gallon milk container next to or above the hole.
As far as chipping just go slow and deal with what shakes out.
One person suggested to get a dremel and cut away the rim from the retaining nut without removing the sink less work someone else suggested to take the sink out which means cut the sealant and caulk remove the wood holding the sink remove the piping and cut it with a tile cutter.
This could really change the approach.
Porcelain sinks seem to have a paradox about them.
Install a porcelain tile grinding disc on an angle grinder.
Personally i would try and get an old cheap sink of same the construction to give a few trials on.
Step 4 gently apply pressure with the grinding disc to the tile surface.
Place a plastic bucket under the hole you need to enlarge.
Ceramic is a very hard material and you need special tools to grind it properly.
Just for my info how much material has to be removed.