I'm not sure the motivation? Is it required you provide a capability study?
Gage pins are not a continuous measurement system (essentially go/no-go). They lack discrimination and likely will not provide measures useful for estimating standard deviations (unless the samples you are measuring are extremely variable). They purposely only report MMC (essentially the smallest diameter). So if the hole is out-of-round, the gage pins will not assess this. Now, there may be variation in the measurement system as a function of how the pin is used (e.g., angle of entry, force applied, etc.). It might be useful to assess the appraiser variation, but the only thing you need for the pin itself is calibration records. While this may be all you need, it is not useful for traditional capability studies. Can you use a continuous measurement system like an indicator (TIR) or non-contact measurements?
As a note, using the specification for determining the correct measurement resolution only impacts the gage capability with respect to that spec. It does not consider whether the measurement system is adequate for process improvement.
"All models are wrong, some are useful" G.E.P. Box