It might degrade the grade 8 but I don't think it would matter. They should still hold 50 lbs of torque. Just let them cool naturally. TIG welding would put less heat into the bolt. You don't need to weld entirely around the bolt, maybe just on each side. that should be strong enough for your adapter. You could wrap the threads in a wet rag too.
What your looking for is called a " hex collar stud". Its a bolt with a threaded stud coming off the head. They exist but it might be hard finding one the right length.
This is the AMK catalog. They have really neat factory type hardware for automotive restorations and they have some collar studs.
Complete catalog
https://amkproducts.com/
This is the section with the collar studs.
https://amkproducts.com/wp-content/u...LK_120-127.pdf
Could you replace the bolt with a longer stud, grade 8 thick washer and a nut like on a 59A engine but have stud stick up past the nut far enough to slip your adapter over it and get a nut on it?
Summit Racing has 7/16" studs in different lengths.
https://www.summitracing.com/search?...iAAEgITcPD_BwE