Yes it can be done.
An adapter is required.
A search on Google showed adapters for the PV most of which had holes to use several different steering wheel bolt patterns.
The spacer that also cancels the turn signal switch may need to be modified or replaced with the 122 version as the PV spacer has a nub that mates to a notch in the back of the original steering wheel while the 122 spacer has a notch for the pin on the back of a 122 steering wheel.
The only time we did a 544 conversion, the customer supplied the steering wheel and adapter. The adapter wasn't made correctly and had to be modified so the steering wheel didn't wobble and we had to relocate the pin for the spacer/turn signal canceller. IIRC, we had the hole for the shaft machined to remove some of the splines inside the adapter so that the shaft could go in farther.
I can't remember the brand of steering wheel or adapter the customer supplied, but it wasn't a Grant.
The spline count is the same as a 122 and Grant used to make an adapter for a 122, but, but never listed it as fitting a PV, probably because of the spacer issue. VP used to offer the Grant adapter for the 122, but it's no longer on their website.
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Eric Hi Performance Automotive Service (formerly OVO or Old Volvos Only) Torrance, CA 90502 hiperformanceautoservice.com or oldvolvosonly.com
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