Aare you indicating that you need a larger size pipeline after the valve (or larger outlet to a large, common, flareline), by selecting a larger size reduction flange stepping up from the outlet flange of the given PSV?
Now, in any case: A PSV, or the pipeline after the PSV, is undersized under two circumstances only:
1. If the pressure is higher than the design pressure for the valve, or more precise higher than the detailed design for the single parts at that particular pressuriced point, for instance for the outlet flange or pipe after the outlet flange.
As sonic velocity is just that: a velocity, not a pressure, you cant tell. As maddocs answer indicates, sonic velocity will occur at critical flow. Simplified: If P2 is less than or equal to P1/2.
2. If the capacity of the valve is not large enough to evacuate the pressure building up inside the vessel or pipeline.
Again: see point one.
However: sonic velocity could indicate that you should look both at the necessary capacity and the noice level of the valve if you do not have precise information on how the PSVs originally were sized and what they at present are reqiured to do.
You should also have a look at the internal built up pressures under release situation in your piping system.
Listening to sonic velocity or not is not the traditionol way of sizing a PSVs system, and not the safest.... ;-)
In addition: If several valves are interconnected to take part of the total load and only some obtain sonic velocity (others not) you should also have a look at dimensions and pressure balance in the system both for PSVs and pipelines.