On my 1997 h40.5 I have about 3/32"- 1/8" play at the bottom of my rudder post. This translates to about 1/2" of play at the bottom tip of the rudder. I have contacted Hunter and was told that some boats can have this much play with no ill effect. It has not gotten worse in 9-10 years and Hunter told me that the rudder bearings are so robust that unless I have tens of thousands of sea miles on the boat it is very unlikely that the bearings are worn.
Checking other similar sized Hunters I find some are tight and some have a bit of play like mine. IMO unless you can feel slop in the helm, I would just monitor the play with actual measurements each Spring and not worry about it.