I'm sure you could cut the old stud off , drill and weld a new bolt to the lift arm but it may be tricky grinding the blot head to the proper shape and angle.
I just talked with the dealer and the part is only $20 so I ordered the part.
I hit a stump with my mowing deck a couple of years ago and broke the link in the same place. I drilled and tapped a hole through the center of the pin and installed a small bolt and washer to replace the ear. Its still there without additional trouble.
That is exactly what I did. I drilled and tapped the stud and used a 3/16 bolt. I still ordered the part because I was concerned that it may break at that point in the future.
I'm sure I didn't hit anything with the mower but I was using the bucket a few days earlier and I may have jarred the deck a few times.
I picked-up the new part today and it looks like they beefed up the ear at the end of the shaft. The total cost was $24.34 with tax and shipping. Not too bad.