Not until you get the screw tip can you start the re-bedding process.

After the full screw has been removed I drilled out the hole with a 23/64" bit. This is 1/64" smaller then the 3/8" teak deck bungs I was going to place in there. I then made up a batch of West System Epoxy, taped and filled the bottom of the hole with about ¼” of epoxy and let it set.