Assuming it's low pressure, I don't see why not. Thread file or thread roller or, if you can find one, a split die (two piece) clamped onthe good part of the thread and then wound off.
If you are determined to use the cooler rather than replace it I'd use a thread file. ailing that get an old female steel fitting, cut the end three threads off, spllit the resultant threaded ring in half, pop the two halves over the bottom section of undamaged thread, stiack a socket over it and wind it off to straighten the rotten threads out.
Cost of rebuilt engine when it fails, or swarf you didn't know you dropped in the cooler while filing/straightening the thread, or the connection fatigues off due to stress when undoing it (looking at the damaged hexes on the cooler) . . . I would guess a bit more than 100 quid . . .