Welcome to the forum.
The semi circular area at the bottom entrance to the barrel throat is most likely just a minor machining flaw from the factory. I can't imagine any accuracy issue it could cause. How does the gun shoot?
The # 4548 is an assembly # explained below. Also explained is why it's on the grip frame of the vintage of 17-4. The other stampings are the usual inspector marks.
ASSEMBLY (factory work) #s: These multi-digit numbers of 3 to 5 digits, are on the yoke at the hinge, in the ‘yoke cut’ on frame opposite the yoke near the hinge (usually accompanied with the inspector’s letter or # code stamp of approval, but not always), and inside of the sideplate, for the pre war and early post war period thru ~early 1958.
After 1957 Model #s were assigned and stamped on the frame in the yoke cut of the frame. The serial # was soon after added in the ‘yoke cut’ as well and the assembly # moved to the left side of the grip frame parallel to the butt. More currently beginning in the 1980s we see non-matching multi-digit numbers parallel to the butt left or right side, and inside the side plate. Once the gun is shipped, the only use for the assembly # is to confirm the three parts it's stamped on, are original to the gun. These are still in use to this day.
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Jim
S&WCA #819
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