A heli coil is just fine for your application calcivic. Just make sure you go (drill) deep enough for the tap to cut enough threads for the helicoil without bottoming out your bolt. I might even do the drilling with the valve cover on to keep the metal out of the engine.
I'm not sure if the bolt bottoms out or has a shoulder to control its clamping force. You can pull enough torque with one finger on a 1/4 inch ratchet. It's only a few foot pounds if that much, might be inch pounds. See if the good one bottoms out and try to get the reapired one to do the same or a little more, but not less.
regards
Mech
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