You can definitely fit a 46 Chainring, I had a 46T Wolftooth chainring on an Magene Power meter crank but the chainline was not ideal.
I would recommend the 42T with 3mm offset combined with the 9-46 Cassette as this will give you a better chainline.
All this depends on your groupset, I don't like running ZTTO with SRAM or Shimano as the indexing is just not always perfect in all gears but if using one of the Chinese groupsets that will be great.
Im running GRX with 42T and 10-50 Cassette. I Live in a hilly area and never need anything smaller than the 10 or bigger than the 50. Even considering going to a 40T with 10-46 now as I seldom use the 10.
Thanks for the answer. I live in a hilly area too, but I'm probably a high speed fan, since right now I'm riding on roads (on another bike) with a Shimano 105 Di2 and 50/36 chainrings, 11-34 cassette and even the 50-11 combination it's not enough for me.
I'd like to make the GV201 an all-road bike, using it on road with one set of wheels and on gravel with another set. To do that, I'm searching for a good combination that could work on both situations.
I'm powerful enough to climb the steepest hills with a 42-44 combination on my actual gravel bike, though I probably find it easier with a 42-46 combination. That's why I'm looking the 9–46 cassettes, because I need high speed on downhills and preferably wide cassette for the steep hills.
A 44T or 46T chainring with a 10-50 cassette should be a good combination too, but at the cost of some weight... Though if it has to work better with the SRAM Rival XPLR rear derailleur than the 9-46, I'm all in.