It's going to be a new bearing and hub, unless you get really lucky and manage to get the hub out without carrying one of the bearing shells out but this is extremely unlikely. It's the inner shells that come out, not the outer shell, which is held in with the circlips.
If the threads are shagged then you'll not be re-tapping them. What's beoing proposed here? Using different size studs and drilling out the holes on the wheel to accommodate the larger studs?
Not sure that would be entirely sensible or at all cheap and quick.
Just buy a new bearing and flange.
You may well be able to wind out the bearing shell using steel plates and some M10 thread bar - I've done it before in the absence of a press.