I don't think you can do both.
AFAIK, the proper way to construct them is by placing thru-pads or vias on the board edge. Thus, they get routed through, and you're done.
Altium doesn't cut these, in 3D view; you see the full pad as usual.
You could make the board edge follow its physical path (a scalloped path, alternate straight and semicircle segments), and run copper up to the edges; but you wouldn't get a plated sidewall, in 3D or in fab.
If it's a hard requirement, you can hack a 3D model of it by placing an extruded 3D model in the board outline shape (including the scalloped edges), then place extruded arcs (of a metallic color) on the edges. (Arcs can be created by Tools/Manage 3D Bodies.) Just don't forget to keep it synchronized with your board file.
Tim