Nooo!!!
My second welder was nearly the same HF model as that. Junk! I went back to using my big AC stick welder.
First issue is there was
no cooling fan in it.
The wire feed was so flimsy that it couldn't feed smoothly.
The two-position welding voltage switch provided 1)Too Hot and 2)Way Too Hot. Far more splatter than it should have made.
(I should have bought HF's other near-identical model, the one you have, its two voltage choices were farther apart).
And - I see the power cord and ground grommets etc are worn out. You hardly have anything there to start a conversion from.
Then a couple other issues not relevant to DC conversion:
HF sold it alongside flux wire labeled DC ONLY. A clue that HF didn't take their AC welders seriously.
I actually had two of those. First one just spit, couldn't make a bead. I returned it. Then saw on Ebay a huge number of them 'almost new, open box special' offered by a liquidator. Apparently nearly all of them got returned. A year later I read an explanation, that batch came with flux wire that was hopeless. So I bought the same model again. $72 with coupon, not much money at risk. And bought decent flux wire, Hobart or something. I got some use out of that welder, but eventually sold it for $25 and got a used Century 130 110 volt Mig that worked nice.
My advice is put it on Craigslist and buy something that is already DC. And not HF''s current AC black equivalent of your welder.