There is no approved process for building up worn bearing bores. And one would spend more money on it that it's worth, anyway. Those wheels have thin sections throughout, to minimize weight while being strong enough, and welding up a worn bore would cause plenty of problems, not the least of which is warping and loss of heat-treatment strength. A wheel that failed could wreck the whole airplane, and who wants that?
Center-punching the bore is also out. Stress risers that lead to cracking, and not very effective anyway.
Most likely a bearing failed at some earlier time, maybe due to lack of lube, and spun the cup in the bore and wore it. The owner at that time was cheap, and just shoved a new cup in there and hoped for the best. That leaves a later owner responsible to fix it right. In fact, the shoulder that the bearing cup sits against might also be worn thin and could break free and let the cup fall into the wheel cavity. An accident of some sort ensues.
Loctite to retain the bearing? Not an accepted standard practice, but in my homebuilt, if the clearance was less than .001", I might do it. As a mechanic I sure wouldn't do it to a type-certified airplane belonging to someone else.
Best to replace the wheel, and replace it with new, not some half-shot junkyard stuff.
