Fixing the stamped initials can be done a couple different ways.
TIG or Laser on soft soldered ribs. I've seen some amazing stuff done with Laser weld.
Even inlaying a piece of steel in place,,yes it can be done on a rib.
Any will take carefull work to cut them back down and polish them out to the original surface contour and level w/o getting into any more of the surrounding original matting than necessary. Anything less than a perfect match in contour and level will be seen when you sight along the rib.
Then, matching up and matting the new area to the surrounding original is the biggest headache.
If it's factory matting, it's usually a rolled,scraped or machined into place feature in most guns, not a hand cut process, LCS included.
Fixing up one small spot by hand can be nearly as glaring obvious to you as the original damage.
Depends on the type of matting being copied and the talent of the person doing the work.
Sometimes the fault once cleaned up can be hidden in a new, more acceptable feature like a small amount of scroll cut from the breech forward on the top rib. Depends on where the original initials were imprinted of course.
Or a small vignette in it's place with the present owners initials more properly done. Perhaps the favorite pooch proudly displayed, or a gamebird of your choice.
All depends on how much you need it to disappear, originality you seek and money you wish to spend.