With all due respect, not exactly.
Yes, the ring is indeed 1/16" on average smaller in diameter, The over all length of a given 92-96 is a 1/4" shorter than the average M98. There are many macinations of charger guides on the M98 bridge, some grotesque large, where as the 92-96 is generally of a small well rounded shape. The a 92-96 is generally more rounded, as the M98 is more angular.

While I indeed realise this is all a matter of very small parts of inches, some in the thousands, it is indeed these subtle differences that, well make the difference.

None of this is to say a M98 has no place in my Battery, nor to declare that any such 92-96 is the superior to any given 98, just stating differences in preception.

In a trim, light recoiling, open sighted bolt rifle....I find few nicer choices then a long-ish barreled, half stocked, straight(or nearly so)gripped small ring pre-98 Mauser.