I have never fished for musky or pike, but, here on the CA Delta, we have bass over 10 lbs, and stripers over 40 lbs,
For big baits that might catch big bass and stripers, heavier baits give big fish a lot of weight to use as leverage to throw the hook, so I don't use hook hangers with the ballast attached when I'm building them.
I use 1/4" lead wire in predrilled holes in the belly for ballast. I put my 1/4" lead wire ballast in separate holes on either side of the belly hanger, from front to back. For bigger baits that need even more ballast, I'm sure thicker lead wire is available, or you can just use lead sinkers.
Instead of attaching the belly hook hanger to the ballast, I use a heavy Spro #4 swivel for the belly hook hanger, glued in carefully so it still spins freely, and pin it in with a piece of spinnerbait wire passed through the eye that's buried in the bait, side to side. That takes away the fish's ability to torque the hook out of it's mouth, and I land a lot more fish.
This is just another option.