The bushing and ratchet are made as one piece. I have not tried gluing two pieces of Delrin together because I don’t know of a suitable glue, and I have concerns about concentricity.
Terminology: Is it a ratchet if it allows rotation in both directions? It is made with a gear cutter, but is it a gear if it does not mesh with another gear? “Clicker wheel” might be the best term.
For the 3 weight reel, the part has a somewhat different form; there is no recess in the face of the gear (ratchet, clicker wheel, etc.). The reason is that the gear end of this part also serves as a thrust surface, and a recess in the 3 wt. part would be too small. All this leads to a different spindle mounting for the two sizes of reel.
See the post of 7 April 2016 for step-by-step instructions on making this part.