TL;DR: yes, a little wobble is fine.
The longer story: The index pin serves to keep the lugs oriented properly so that the bolt can freely engage and lock with the barrel extension. There are tolerance allowances so that a little left-right wobble won't interfere and the pieces will still mate up fine. The first Rifle I ever built was with a basically free barrel that was missing that indexing pin. I tried using a clipped piece of coathanger, doing it without, etc, but the torque from the nut would always cause the rotation to exceed what was allowable. Basically the bolt wouldn't pull out. Eventually I got it to work right with a small cut nail that was the right size. Now the rifle is at over 10k rds with 2 malfunctions in its life.
If you're concerned it may be too much wobble, just put the barrel in and push it to the "extremes" and dry cycle the BCG. If the BCG can freely lock and unlock with the lugs on the barrel extension, it's good. If it won't then contact the manufacturer and they should be able to take care of it. Hope this helps.