It is fairly common for wear in the pivot pins and their associated "holes" to allow excessive side to side play in the blades. The usual repair involves re-boring the "holes" to a slightly larger size, removing any asymmetry and machining new pins to match the size. Alternatively one can fit bushings in the re-bored holes to allow use of standard pins.
Some manufacturers offer this service
for their products, but any competent machine shop should be able to accomplish the job. We had it done for a two blade Martec prop whilst in New Zealand
back in ~1991, and the restored prop worked as new. The cost then was about half the cost of a new prop.
We also had it done when we bought this boat
... on a two blade Gori. The shop used bushings, and it seemed fine when we remounted it. However after only a few dozen hours of use, the slop returned... in spades! Seems that the shop had used sintered bronze
bearing bushes instead of solid bronze
, and it was WAY too soft for the application and distorted in short order. So, if you decide to have the prop repaired, be sure of how the job is done!