Is the actual post rotten?
It looks like a post with cladding on four sides?
It might be possible t save it by cutting above the rot and checking the inside.
If it isn't rotten internally, you could fit a new casing on just the bottom (do the same to the other one)
Make it look like a feature.
The rot could be rain splash? You could use hardwood covered with lead/aluminium/copper
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