Your bullet should be as short as possible, as in Round Nose, Flat base. I have found 1:10 works at low velocity. have not tried it in 1:12.
I have tried in 1:12 in .308 Winchester. For me, it hasn't worked out. Your results may vary. It's not ideal in my opinion, even with lighter bullets. I had a nice low velocity load using 110gr. RN-FMJ .30 Cabine bullets, 9.5gr. Trail Boss, and WLR primers. Standard flash hole size.
When the round was fired, it sounded like high pressure steam in a pipe, then you heard the bullet hitting the target backing. I was shooting at 100 yds. At that distance, if the round was supersonic you'd just hear the muzzle blast and the ballistic crack of the bullet. You'd never be able to distinguish the sound of the bullet hitting the target backing. Unfortunately, it wasn't very accurate and resembled a shotgun pattern. I suspect a tighter 1:10 or 1:8 twist barrel would have tightened the groups up accordingly.
Further load development @ 11.5gr. Trail Boss yielded acceptable accuracy under the circumstances, however, it was not a subsonic load. I've put (15) shots at 2 moa at 100 yards. A nice plinking load that was easy on my ears, shoulder, and pocketbook.
I wouldn't waste my time with 1:12 twist .30 cal. barrels if it was my sole desire to shoot subsonic cartridges.