Would I be safer
If the threads are in good condition and engage at least 5 turns, the benefit of using a through bolt will be very small. I'd worry more about that serrated washer not lying flat.
Ok thanks tester. The bolt isn't fully done up hence the washer not being flat, test fit.
I would install with loctite. Could also add a locknut if there are enough threads.
@sacredhart started
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If the threads are in good condition and engage at least 5 turns, the benefit of using a through bolt will be very small. I'd worry more about that serrated washer not lying flat.