(Just 'til someone else comes along) . . .
You're not giving much information on your application, - - and it's not something I generally do, - - but it sounds to me like I'd subtract 3/16" from the height (leaving 3/32" gaps), - - and 1/4" from the width (which then gets divided in two, leaving 3/32" gaps on the outside edges, and 1/16" in the middle). That would be the tightest I'd want to go.
But of course, - - there are several other factors involved.
Mainly, - - how accurate will your glass be cut (you may have to leave slightly larger allowances, according to your supplier's tolerance range).
Also, - - is your opening perfectly square, and will the glass(es) be cut perfectly square??
Do the hinges you're going to use require a certain minimum clearance??
How dimensionally stable is the material you're using for the rest of the unit, and how constant is the humidity level in the room/building??
Sounds like you already have the unit built??
Generally, if I was going to custom build a unit that was going to need frameless glass doors, - - I would figure and order the glass
before the build, - - then their 'tolerances' wouldn't have to enter the equation.
But, - - if I did need to get the glass last, - - I would get them made locally, - - so I could double check their accuracy upon purchase.
(Where the hell's Leo when you need him??)