There are various lock mechanisms. The cheap ones clip to the valve stem and risk that the thief will just cut the valve (if rubber). The better ones tie the trim ring to something else. Here's one popular model Called CapLock.
https://www.zdnet.com/article/ericsson-predicts-eight-5g-smartphones-by-mid-2019/?ftag=TRE0fb9d06&bhid=24714282900294625063009329576714
Is this a real problem where you are? I haven't heard much about hubcap theft since the 50's & 60's, but I've not lived or camped in high crime areas either.