Ned no offense, but your question lacks detail.
The number and spacing of the 1 7/8sq cutouts per panel, how they line up, are the panels going into stiles and rails cut by you or just screwed or glued to another surface?
A 1/4" router bit will still cut, (albeit small) rounded corners that you could clean up, (if adamant) with the a corner chisel but for continuity you'll need to make a jig.
A jig saw for a couple of cuts maybe but for many duplicates, I'd go different.
1. With the info at hand, I have 2 ways that don't require a router but a table saw. you can rip 1/4" lath, mark off a jig on some ply and glue the strips together.
2. Rip 1/2" lath, mark up some ply for a jig lay the strips on the jig, mark the intersections and dado them out at 1/4". Jig and glue them then place them into the project