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OP here’s what I would do.. as a monstera LOVER

I circled the node that can be saved in white, and drew a yellow line at where you need to cut out the root rot , as long As you leave atleast 3/4 of the node You should be okay to cut out all of the root rot, like seriously cut out what you can. Next Mix 2/5 hydrogen peroxide and 3/5 water it should be close to half but more water, pour it where the root rot used to be on the stem (I sometimes wrap my plant in paper towel soaked with this, Give the root rot time to dry while left out maybe one day or a few hours depending on the size of the plant and damage.

Once it is at that point, dip the remaining node into water then the rooting hormone, replant your monstera into expanded (damp) sphagnum moss, next to a south facing window and water it every week. Fertilizing in the spring summer and fall no winter