It's the twist rate of the barrel, not the length that produces stability. I don't shoot them myself, but I have seen several members post that they use them. The barrel twist rate for the 1895 is 1:20" which was likely selected for the 405gr bullet.
Strictly speaking, it is the length of the bullet, rather than the weight, that requires faster twist. However, heavier bullets are longer than lighter ones, so it is shorthand to just say "heavier". And it is the imparted rate of rotation to the bullet that imparts stability. For instance, bullet shot at 1000 fps through a 1:12" twist barrel would be rotating at 1000 revolutions/second, or 60,000 RPM. If it were shot at 2000 fps, the rotation would be 120,000 RPM.
Is a 1:20" twist rate enough to stabilize a 500 gr bullet from your Marlin? You'll have to try it to see. A lot will depend upon what you want it to do. If you want it to stop a charging grizzly at 20 yards, no problem. Stability won't be an issue. If you want it for silhouette or target at 200 meters, maybe not. Somewhere between? It may be ok for your purposes. Buy some and have a go at it.
Bullet diameter may be an issue also. FWIW my 1895 will keyhole 405gr bullets that size 0.457 at 50 yards. However, it does fine with 405s sized to 0.4595 or larger. Shooting cast bullets can be an adventure. You should slug your barrel so you know what you're dealing with. General wisdom is that for best results, the bullet should be 0.002-0.003" larger than your barrel's groove diameter.