Firstly, welcome to the site.
Just wondering what would have caused this,
With the corrosion that heavy and that uniform, my first guess would be that someone accidentally slipped in a plain carbon steel keel bolt during the initial boat construction. HOWEVER, having said that, the chance of also having the small reinforcing plate as accidental carbon steel as well really seems low on the probability scale. Got to wonder if somehow the lightning ground is involved when other bolts are in good health.
First thing to do, before you can even discuss this problem is to check it out with a magnet.
and if this is an easy-ish DIY job?
A bit of a bugger unless you're prepared to drop the keel.
I would suggest checking to see if there's water coming in from under the washer or just on top of the bolt from other sources within the boat. If nothing from underneath, you may want to consider installing a barrier to ensure the bolt stays dry. Permanently
No insult intended here but from your question, this problem is well above your pay grade. You likely excel in other areas however. You may want to bring in a pro (no dock rats here) for their opinion. Several questions to be looked into here i.e. does the loss of one bolt only compromise the keel along with several others questions.