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As mentioned the sleeve was left on the shock mount bolt, the sleeve needs to come off. A propane or MAP gas torch to heat it and then a pipe wrench to try to twist it will likely get it moving, but yes cutting a slit along it with a dremel cutoff disc and then opening the slit with a hammer and chisel will also work guaranteed. A few decades back my friend and I ran into the same issue with his car replacing the rear shocks. You shouldn't need to remove the whole stud but having it off the car can make it easier to work on if you have a vice mounted to a solid work bench, if not you're better off letting the car hold onto it for you or putting it back on the car to hammer and chisel at it.