You can remove it, but I would try to apply a lot of WD40 into the stabilizer bushings and see if the squeak goes away. It looks dry in the photo. I had that issue on my 69 and it worked for me. The same with my control arm bushings.
Certainly worth a try to spray lube things one by one just to sleuth out what is making the noise.
I decided to rebuild my entire front end and ordered a full PST rubber set. I also ordered a new pitman and idler, and I think I’m going to put Moog Problem Solvers in the UCAs to try and get more caster. I’ll rebuild the K-H brakes and change the rubber hoses while i’m in there, weld on some LCA swaybar tabs, scrub everything with a ton of simple green, and paint some stuff black.
I was introduced to a super old school alignment shop (B&D Alignment in Bellflower, CA), so they will get their hands on it once I’m done.
My car is a daily driver, so I have to figure out how i’m going to take it out of commission for two weeks while I do this in my spare time. (Hopefully my boss will just let me drive a work truck home for a few weeks). The only tool i think i need is an upper ball joint socket.