I have, and used "WETS" here and there, a great product on Weatherstipping, and some vinyl-plastic trim.
As for coating a clear coated-painted Wheel, it has to be better than nothing for sure, but there are literal countless products you could use, that will give you better, long lasting protection IMO.
As we know, wheels go through literal hell, dirt, brake dust, rain, salt, snow, and all sorts of other nasties as well.
I believe the best choice would be some form of a coating, the tougher the better. Like CQuartz, DP-Pinnacle Paint Coating, Opticoat 2.0, GTechniq C1, or EXO, etc.
No, not cheap initially, but wise money spent, if you want the very best in protection, and again IMO.
My recent philosophies are, buy a bottle, a huge bottle of coating, do the whole vehicle, and the wheels too!
Prep will be important, the cleaner they are, the better the coating will bond. And a bottle of Carpro Iron-X won't hurt. Think of them just like your paint finish on the vehicle.
Mark