I'm guessing along with you. I think that cone is a cover for a nut or pin. Probably pressed in, or has a threaded pilot. Based on your prop's rotation, I suspect any threads would be std. RH. It won't be pretty, but it won't chew up that cone any more...so I'd first try prying it out. Then use a pipe wrench to see if it turns out. Let us know what you figure out.