nope, a rim is under compression, can't cut it without the blade/saw/grinder binding and possibly breaking.
If I were the thief, and couldn't get my hands on a city bus

then I'd use a cordless recip saw. Having used recip saws to cut computer hard drives in half using Wood & Nails blades (!), I have no doubt they would handle this task easily too. It might require a longer-shackle lock, but I'll stick with locking the rear wheel
and frame.