Yeah, you can drill/grind/punch that thing out. If I remember correctly that stud is just pressed into a hole in the arm. It can be replaced with a bolt. Not ideal, but it works if you don’t have access to a welder.
I’m not particularly a fan of that style on the front and I can weld, so I welded tabs on and turned the bottom of the shock 90* so I could do a bolt as a double-shear mount instead of a stud or bolt in single shear configuration. The D-28 in my 88 had a bracket that bolted on to the arms and a bolt went through that and the arm instead of the stud mount design and I always thought that was better but I have a welder and not a press brake to make a bracket like that for the last set of arms I made.