Like what Reaper said ^^^.
If you can get the peaks sanded down, the rest won't leak much. It only really leaks when the engine is hot, the seal is old, and the bike is leaning deeply on the sidestand, because the oil in the pan is then resting right against this seal.
In a worst-case scenario: you can make a thin brass sleeve (often using the brass tubing found at hobby shops and hardware stores) and slide it over that part, inside the seal's lip. The seal can take up to +0.5mm more diameter and still work fine. Been there, works fine (Honda Twins).