Old style rudder: to fix or just sail?

Hey folks

I am having a blast on my pre-72 sunfish. I may have overtightened carriage bolt that provides pressure to the latch and spring plate. The screw that holds the spring plate in broke and I need to drill it out. Reading other posts this could be a bigger undertaking if I have a rotten wood block underneath.

I am curious if I have to replace the wood screw to the pressure plate or if I can just tighten the carriage bolt enough to hold the rudder in place? I sail on deep lake water...

Old style rudder: to fix or just sail?