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It's definitely threaded. Can you start it off by tapping with a screwdriver in a counter-clockwise* direction?
Then some needlenose pliers with either side of the jaws located in the slots... you should be able to rotate it out.
Grease it well when you put it back!
*the one in @fredtc 's photo appears to be a standard thread.
This looks like a (not cheap) possible solution
https://www.bikingbarn.co.uk/mavic-id360-bearing-tool-V2550201
The ID360 looks like the freehub has a similar lockring retaining the bearing
You might get lucky with a file and one of these https://www.ebay.co.uk/itm/285455449198
A cheap pin spanner might even be enough if the pins are long enough