Without knowing the contactor mfr. it's impossible to tell for sure, but here are some generalizations:
Contactors must be listed with lugs for the reasons mentioned above.
MOST contactors are also tested and listed for "busbar" connection, which usually also includes acceptability for using compression lugs with industry standard bolted 1-hole connection tangs, because the width of the tang is generally considered to be the same as a similar busbar that would be appropriate for the current rating of the contactor. NEMA is the standard used in North America.
If you are going to crimp anything onto those cables, I would just crimp on some lugs, then jettison the mechanical lug on the contactor and bolt directly to whatever the contactor's lugs were connected to. Using the Ilsco offset adapters would be necessary only if the mechanical lugs on the contactor cannot be removed, which is unlikely.