Note this may depend on the mouse too - the IR detector model. I've opened my old Amiga mouse and it was maybe 20 CPR (I didn't count, but the holes were pretty big). My Logitech mouse with about the same wheel diameter is 64CPR. So, as long as your printer creates the stripes reliably, radius may be matter of the detector.

Additional thought - we can get higher CPR by using even smaller gap - up to almost the size of the readout element.
Normally it is managed like this:
(I hope my ascii art will come out readable)

light||||||||||||||||||||||||||||||||||||||
Wheel####__________________################_____
IRdet___!!________!!_____________________________

with IR sensors half the gap width apart.

But we can make the gap so small that they are 2.5, 4.5, 6.5 etc gap widths apart.


light||||||||||||||||||||||||||||||||||||||
Wheel####____####____####____####____####____####
IRdet___!!________!!_____________________________


or


light||||||||||||||||||||||||||||||||||||||
Wheel_###___###___###___###___###___###
IRdet___!!_________!!_____________________________



light||||||||||||||||||||||||||||||||||||||
Wheel####____####____####____####____####
IRdet___!!________________!!_______________


The problem starts when our scale gets too small - gap size is comparable with detector size.

light||||||||||||||||||||||||||||||||||||||
Wheel####____####____####____####____####
IRdet___!!!!______!!!!______________________

Note we can use 1.5, 3.5, 5.5 size gaps as well, but our readout direction will be reversed.