Drill a 1/4" hole most of the way through the ring without damaging the axle shaft, and then split the ring with a chisel.
Then you have to press the bearing off.
You can't press the ring off, and if you did you can't reuse it because it isn't safe!
Now, here's the rub, you cant buy the rings separately, at least I've never found a source for them. I've only found the rings in a bearing kit, which should have the seals with them.
Also, make sure the retaining plate is close to being flat, if not it wont hold the seal and bearing tight in the housing.
Although it's for a D60 the procedure is documented on page 25 of the Dana 60 service manual shown on the site below.
They use a special puller to get the bearing off and to reinstall the ring and bearing but most people use a press to reassemble things.
BTW, the axle with the seal and bearing should come out through the hole in the brake backing plate.
With the backing plate out of the way, push the seal away from the bearing and then you can get the press or the puller in behind the bearing. You still have to cut off the ring.
It's a fair amount of work, if the seal isn't leaking you might take a chance and leave it alone. If the bearings are marginal then bit the bullet and change it.