Most of the material and fastenings stock sizes in binary-fraction of inches, and sheet thicknesses in SWG, have close metric equivalents, some to small fractions of a millimetre. So straight conversions by material, e.g. 3mm for 1/8″, or 10mm for 3/8″, should often work without noticeably impinging on scale proportions, except in very fine detailing.
Where you do need care is if working from Imperial-dimension drawings, that the change to mm materials will not give assembly problems such as affecting clearances.
Gears, such as on a traction-engine, may need particular care if metric (module-pitch) unless the drawings are all in metric anyway; due to much less equivalence by diameters with inch-based versions.
The standard ISO-M Coarse fastenings are readily available but their diameters and spanner sizes do not follow very regular series, the threads sometimes seem rather loose, and with their stamped heads might not always suit fine-detail work. There is the ISO-M Fine series but I don’t recall encountering any, let alone using them.
The button-headed ISO-M screws with Allen socket heads are quite good at pretending to be rivets, once painted so the sockets are largely filled.
Still use ME Standard threads for steam- and water- fittings up to 3/8″ diameter, and BSP for 1/8″ BSP upwards. (The o.d. of 1/8″ BSP is approximately 3/8″.) This is because the majority of fittings are still made in those, indeed BSP is still the industry standard though I think a.k.a. “G” to hide the fact!
Although the ME threads (32 and 40tpi) are also valuable where a fine thread is necessary for adjustment purposes, such as the cylinder valve-spindles, I would think the ISO-M Fine standards will work just as well