I’d fix it. I’d use a Unispotter and a slide hammer until I got it how I wanted.
I wouldn’t weld it in because it would take much longer. You will need to smear filler over where you welded anyways if you replace it. And the metal on these trucks is crazy thin, so it is pretty difficult not to blow holes through the metal. If nothing above changes your mind about not cutting it out, consider this. What if you warp it when you weld it? You are SOL. Then, you won’t be able to make that straight the right way.