A new hub is probably the preferred option but it's quite likely the wheel bearing will be destroyed as the old hub is pressed out of it. Sometimes you have to destroy the inner race to get it off the old hub and often the inner race comes away with the hub which does it not a lot of good! The bearing itself is not an astronomically expensive item and as the hub carrier has to be dismantled from the car - so a press can be used on it - you might as well just renew the bearing anyway? If you have a reasonable tool kit then removing the hub yourself and taking it to a workshop to have the old bearing pressed out and the new bearing and hub installed is very "doable". The two big bolts which hold the shocker to the hub carrier can be very corroded and snap (2 did this when I did the front shocks on Becky) but you really should replace those two bolts anyway. Be aware they are not just standard high tensile bolts though - which will be stamped 8.8 on their heads - They are 10.9, or similar, if I remember? Buy the right ones from Shop4parts or a main dealer or wherever but don't just stuff a standard bolt in!
The other option would be a high quality thread insert like these:
https://www.timesert.com/ which, in this instance, I think would be a better solution than a wire insert like the more usual Helicoil. I'm not sure how an MOT tester would like this solution if he/she noticed it though. Better to go with a new hub I think.
I'd also want to be very carefully checking all the other hubs on the car because if someone has been "enthusiastic" with a big wrench or air gun it's likely others will be compromised.