So you are going to drill a hole, and then tap it to accept a threaded bolt?
I dunno, I don't think it will weaken the roll bar, but I think it might be a weak attachment point. You would have a grade 5 bolt holding x lbs up, thru how thick a steel wall of the rollbar? Prolly 3/16 or .1875 inch, or thinner. For holding the basket up, I don't see it being an issue. If you have a cooler full of beer and ice up there, it will hold it up. But if you start down the trail the various lateral or horizontal stresses might tear up that hole.
(I know the cage isnt suppose to move, but its a stock cage, on a stock tub, with a stock frame, there is shifting. But more so of the supported load exacting its forces on the bolts, rather than the cage exacting its forces on the bolts. Or heck, maybe both *shrug*).
I personally would lower the basket in between the bars of the cage, and use a something like 4" flat bar as a backing, and three or four ubolts per side to wrap around the roll bar and the nuts on the inside of the plate.
Thats, the way I am going to do mine. This way its lower (by max 2"), and there is no compromising of the cage. And the torsion point of failure is not the attachment point to the cage but in the flexing of the basket itself, which is an easier fix than a torn hole in the rolltube.
I'm no engineer, maybe I'm over-engineering it. But that's what I think.
Your mileage may vary!
Good luck!
Chris