It looks like someone used a flange, reversed, as a retaining ring, and painted over it.
I am assuming that the locating screw is preventing you from unscrewing the shutter from the board...
If it were mine, I'd clamp the lens board down in a vise, horizontally, and work on rotating the flange counterclockwise to loosen it...using needle nose pliers in the screw holes, after protecting the aperture and shutter blades in case of slippage. YMMV.
I think I might try some paint stripper - carefully!!!. I'd probably use an artist brush or q-tip to just run a little around the edge of the flange and maybe a bit in the holes in the flange, Then try to rotate the flange. A lens wrench would be a good idea but the pliers might work. But tape a piece of cardboard or plastic or something over the back of the lens cell to protect it first.
I don't remember these Supermatics having a locating screw - just looked at a couple of mine and don't see a screw - probably just stuck in there - you might try to rotate the shutter a little more energetically but I'd start with the paint stripper. (Mine is held in the same way with the flange as a retainer but I didn't paint over it.)
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