Machine screw (measures 2.8 mm outside diam: is this a 3 mm screw?) mates with tapped hole in steel sheet metal (about 1 mm thick). Hole in sheet metal is stripped.
What is the easiest way to restore fastener function without thread insert? Drill out and tap larger hole? Or...?
Can this hole be restored "in-situ"?
This is a low-stress application: a control panel (switches and lights) is held to a cabinet. Total control panel weight is about 5 pounds.