I hope others will help answer this but from what I understand your question, here goes...
you could use a 3/4" wheel to hollow grind a really small, thin blade. but if you used the same wheel to grind a 1/4" thick blade 2" wide the bevels are going to be extremely deep and short, whereas a 8"or bigger wheel will allow you too bring the bevels higher or to the top of the spine. the wheel size is directly related to the geometry of your finished grinding depth and height of the bevels.
I use an 8" wheel and most of my blades are 5/32" by 1 1/2" and I feel like I'm pushing the limit sometimes going high with the bevels, I'd like to get a 10 or 12" wheel one day.