Wear ring clearance depends on how much leakage flow you can afford without degrading pump head. Stepanoff,A.J.(1957), "Centrifugal and Axial Flow Pumps" 2nd Edition shows in Fig. 10.4 on page 186, leakage in percent for 4 speeds at several clearances and grooved/plain, open/closed end geometries all for a 4.125 diameter seal. For a plain open-ended seal about 6-7% leakage occurs at 4 mils/inch clearance ratio. At 9 mils/inch leakage loss is 18.7 to 20% at speeds from 1400 to 2500 RPM. If you can find loss factor C, data for a particular seal geometry you can calculate leakage flow from QL=CA*SQRT (2gH) where A is area and H is head. For labyrinth seals, a single tooth loss factor can be multiplied by tooth number minus 1.0. If high running speeds are involved, rotordynamic bearing properties of the seal clearance may become important and more controlling than leakage flowrate especially if impellers are substantially overhung from the lowest radial bearing. Sometimes, noise/vibration control may influence seal clearance selection to avoid exciting highly resonanant boundary structures like thin, bell-like impeller shrouds.