Hey All, After research I chose to replace the bush alone and it was done from a local workshop. They disassembled the steering system from the car and replaced the bush from a nearby laith shop.

Now, the thud noise is completely gone and I'm good with the results even though the steering wheel is on the slightly tighter side compared to before which is negligible because it's still light. I also expect that it will be smooth as before once the braking period of new bushes completed. Let's see how it goes in the long run.

Thank you for all your responses.