My 164 flogged out the mounting hole in the arm.
I plated the arm on both sides of the U-section, partly to reinforce the arm, partly to reclaim the hole at the correct diameter.
I also boxed the bottom of the arm.
It worked fine, but I think your solution is better.
It’s been a long time since I have looked at a 140 rear end, but is it possible to fit a 240 lower trailing arm?
Edit… my memory is saying that the 74 (and 73?) 140 trailing arms are different to the earlier ones. Is that something useful for you?