Hi pgrbff, it is quite possible that the knob has been cast onto the screw, so may not come out at all, in which case you could either cut it off and drill and tap and fit a new thread, or just a plain hole and a plain bit of shank on the new thread and secure with a cross pin, or maybe turn the threaded portion down enough to fit a new thread with the centre bored to a close fit and secure it with a high strength retaining compound such as Loctite 638 and pin it crossways also if you want reassurance for it to hold.
One question, does it have to be slightly tapered?
Regards Nick.
Edited By Nicholas Farr on 28/01/2021 10:13:08