I took the NCM Moscow to two bike mechanics today.
The first said the threads are "cooked" and there's nothing that can be done.
The second used a specialist crank-pulling tool designed specifically for these situations and got the crank arm off. He wouldn't tell me what he used other than it was tapered.
With the crank arm off, he was able to pry the plastic cover off the PAS, clean out all the red dirt that had accumulated, put the cover back and test if the sensor was still working.
I took it home, applied a tiny amount of grease on the square taper spindle to make it a little easier to remove with the reduced thread and reattached it tightly with the bolt using an allan key.
The Moscow is so much more responsive now.
The rental shop owner was disappointed that I did not bring the bike to him when I found the issue (I found the issue on Sunday and he's closed Sunday to Tuesday) but he was fine with the thread being a little damaged. He was more concerned about if the bike is working fine for me, which it is. I've rented it for another week to make sure this crank arm doesn't start wiggling.