If you can feel the ridge it has way too much piston to cylinder wall clearances to give you years of good service without worrying about it using oil and breaking a stock piston skirt
I would take it apart and take the short block to a good machine shop and have them bore and hone it with a torque plate and buy a good, not a cheap, rebuilder kit for that after finding out what bore size you need to order for that block

Will it run and work okay doing it the cheap way with quick hone and set of stock replacement rebuilder rings, yes it will Will it live and give you excellent service for a long time, not likely