Leave it alone.
If have to pull later, can try stud there but don't hold your breath. Likely need a bottoming tap to retouch the threads for rust damage etc. and maybe add a few threads to bottom out the hole.
Or Find a replacement head.
Likely to fix is have the hole welded closed then re drill and thread.
Cast iron can be welded but needs right rod/wire and more and not easy there even for many experts.
Problem is Cast is hard to weld for start but this spot sees higher thermal cycling then rest of engine. Wrong filling often means harder/softer metal may crack later.
Might be easier the braze the hole then redrill etc.
Even then likely has to preheat the head so welder/torch doesn't spot heat that area because that could crack the head anywhere.
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Dr. Ian Malcolm: Yeah, but your scientists were so preoccupied with whether or not they could, they didn't stop to think if they should.
(Jurassic Park)
The Ogre's Fiero Cave