Hello! Welcome to the forums! 🙂
Have you tried using the predrill location?

Thought I don't think you're getting an error because of the hole size, but rather the fact that you are trying to do a pocketing operation on a slot the size of your endmill. You should just use the slot command with a predrill location instead 🙂 here's a quick mock up I did:

Here are the settings I used:

Give it a shot with a slotting operation instead and let me know if that gives you the results you want. If not let me know and we'll figure it out! 🙂
edit: Also, your terminology might be a little confusing to others. Just a few pointers to help ensure you don't say the wrong thing without realizing it."
"1.5875mm flat bit to drill the hole" - What you are referring to is a Flat End Mill. And while I don't think drilling is an incorrect term, the common term is plunging.
"[...] clear the channel with the same drill bit." - Technically, a drill bit is the pointy one you use to drill holes with.
Here's a few different types of endmills:

And one last note, not all endmills can plunge. In order for an endmill to be able to plunge, it has to be a center cutting endmill.

If you try to plunge with a non center cutting endmill, you will crash your machine.
If you already knew all that, then no worries. But I thought it would better to be safe than sorry wit this and explain the proper terminology. Hopefully that doesn't come off as being rude, just don't wanna sound like a rookie machinist now, do ya? 😉
Either way, welcome to the community! 🙂 I hope to see some of the cool things you make in the future!
Best,
Xander Luciano