No. First file the back of the tip down at an angle that removes the existing string groove. Then glue on an overlay with the medium of your choice, file, sand and shape to a design that suites your eye and you will have a stronger tip than what you have now. The end result could look exactly what it looks like right now if you want but because you have laminated another layer over the violated back tip wood and filed a string groove only in that laminated material it protects the osage wood fibers from tearing out as could happen as it is.
If you look at the picture of my tip overlay you will notice that I first removed quite a bit of osage from the back of the bow's tip to allow the overlay to "fill in" the removed wood area. Yet, with the antler, in this instance, now "Backing" the bow in that spot I don't have the worry of the wood splintering here. Think of it as backing a bow where there is a violation to keep the back from blowing out. Same principle only used in a single spot. Then with the Backing on you can file a new groove there with out the danger of a blow out.
I hope this helps. Let us see what you finally do.
Christopher