I don't think a 0.5mm oversize bore will seal properly, that's a pretty big clearance for the seals to take up.
Boring out to14mm will change the hydraulic ratio & make the pedal feel firmer but reduce power. If you go down that route, it might be difficult to get the bore the right size to work correctly, the original will have been machined to precise tolerances to work with the piston & seals. I would just replace it.
I use brake fluid on master cylinder seals and red rubber grease on caliper seals