They do actually - there is a ratchet and die setup you can get where you drill a hole in the center of where you want and thread a screw type device through it, then you mount a sharp die in the shape you want to cut out to the screw shaft, then you ratchet, ratchet, ratchet to pull the die through the metal and cut out the hole you want.

I've used them for IEC connectors and cutting tube holes when I build a few guitar amps from scratch using custom bent chassis. They are kind of expensive though...at least they were 10 or so years ago when I actually built guitar amps.

Video of one made for outlets.

https://www.youtube.com/watch?v=eo5Udskue84

Well, it all worked out. I am seeing double. Got this power supply ready run the "Punch Brothers" 660 Flat-Head buffer amp.

Well that certainly looks all sorts of cool!