Change In Hole Diameter = Linear Expansion Coefficient of Al * Initial Diameter * Temp
1.5mm = 2.34E-5 * 44mm * Temp
Temp = 1.5/0.0010296
It would appear you need to chill the panel to about 1,500C below room temp but keep the 44mm hole saw at room temp.
(I might be off on that calc, check math).
All kidding aside I agree with Pars, think you're looking for a 1 13/16" hole saw if you can't find 46mm, which is just barely barely over 46.0(n)mm. I mean that may vary whether to look for metric or not based on your geographic location, but I find a few links with Google at misc places;ExampleEDIT:
That example is only of a random hole saw, NOT what you'd want as the teeth are wrong. You will defintely want a saw spec'd for metal or at least multipurpose, not a wood ripper.
Also if you DIY, you'll want to liberally apply oil to keep the teeth from clogging up.