Posted same question in my build thread 2 days ago...
I was told that Ford used to provide a drilling guide+how to with the knob.
Mine is broken and is basically just a tiny plug. Ordered a repro but no guide came with it.
So I guess I'll have to make one.
On the pict I see you have the old knob still in place, you could may be secure it in a vice while drilling on the other side?
That way it would not turn and you should be able to drill it out.
There are also bits available made to remove old broken studs using reverse rotation, but I don't know if they exist in this tiny size.