The Aeropack tailcone retainers work with the adapters just fine. I'm building a 75mm with the 4 inch tailcone retainer and I have test fit both 75mm motors and the 54mm adapter with actual hardware. I don't have a 38mm tailcone on anything, but I can measure the fit with hardware in a regular retainer to see if there is a difference if you want. Main thing is test fit both ways before you glue. I'm not sure if that size tailcone comes with the spacer, but I had to setup for using it on the 75mm to get the spacing right.
Oh and all this was for Aerotech hardware.