that stud may looked pressed in, but in reality, it's welded.
one option you may possibly do to save the plate/bolt assembly, is to cut new threads with a die using the closest size metric thread that is slightly SMALLER than the thread that is there now.
i can't be sure that will work, as i'm not there to measure the stripped thread to see if this will even work, but it might be worth a try.
the only other option is to cut the stud off flush, obtain a "universal" mounting stud that fits your shock bushing [usually available at the parts store or online], and drill the size hole in your plate required to mount the "universal" stud.