I'm no expert but I've read some and had some experience with my knife collection. Different stag types and bone types have different porosities. Sambar stag is very dense, that's why it's so highly prized. Cattle shin bone is very dense, so is giraffe shin bone, other bone maybe not as much. Many stag and bone handles are not stabilized, even the newer stuff. Stabilizer is mostly used on wood.
In general, any stag or bone can dry out and that can result in cracks. Finding a way to hold in some moisture or introduce some moisture is not a bad thing. Wax will help, mineral oil in small applications will help too (no soaking!). I bought a little tin of Renwax years ago and I've still got most of it. A little goes a long way. I've also used Formby's Oil, which I think was recommended by Kerry Hampton.
I did an experiment one winter a few years ago. I had some stag and mammoth handled knives that I'd noticed had shrunk. I could feel it in the meeting of the covers with the liners. I found an old tobacco humidor, with the porous stone in the lid and dropped some water on it. I sealed the knives in the humidor overnight and the next morning both the stag and the mammoth had absorbed enough moisture to restore the cover to liner fit. I applied some Renwax afterwards and that seemed to slow down subsequent shrinkage. I've seen no ill effects on the knives I treated.
Don't be afraid to use some good quality wax or mineral oil to treat your knife handles. It can only help.