Guess I’m a little bit “cornfused”. Why can’t you just use a little bit longer #6 screw and put a nut on the backside? No need to enlarge the hole and since the threads are stripped, just run it in as much as you can and install the nut. Plus - it’s at the trailing end of that structural longeron, so very little load on it. Drilling a couple #40 holes for a platenut won’t sacrifice anything.
Can’t get your hand in there to hold the nut because the inspection plate is in the way? If you can’t reach around to hold the nut from above, then how about cutting off the joggle in the inspection plate where the hole is and install the nut with the inspection plate off at first. You don’t need that hold down point to secure the inspection plate anyway.
OK, so I can’t see the application here, but if that doesn’t work because of access, then just JB weld a nut in place on the back side of that hole with the screw in place holding the nut - with the inspection plate off - and let it cure. After cure, remove the screw, and you essentially have a platenut. How often do you have to remove that screw? Well….. never if you’ve removed the aft screw joggle in the inspection plate (not needed) to get the inspection plate off for your condition inspection. If you want to maintain the integrity of the inspection plate with all its screws, then fine. The JB weld should hold anyway. If it doesn’t, then just re-glue it, but this time clean it up better and rough up the area to make the glue hold better. I think you have enough advice here on this post to come up with a fix. Neither one of those things that this screw holds is critical. Both will stay put if that screw falls out.