I’ve played around with it for a while, but I can’t figure out how to do it. I’ve also searched the site and forum, as well as on Google. All I can find is information on wrapping images or textures.
Just make your cylinder with the appropriate number of faces, then intersect the size of circle you want with the cylinder. Use the circle (on the cylinder face) which intersects with the cylinder and copy it around as @mihai.s has done.
Once completed, you can smooth the circle faces to match the cylinder.
Extensions make it easier ( true-bend, radial bend, flowify) but you could create ana rrangement like this and intersect geometry and delete the waste ( i didn’t bother deleting the inside ones)
It will give you a wrap and a curve face on each stud. It isn’t perfect but maybe the best you could do?