One way or another, you need to report it and deal with it as it's required safety equiptment and you shouldn't be driving it other than to a repair shop / rental location (and the rental company may want to tow it).

Presuming LDW, that is exactly what LDW covers. If no LDW or other insurance, you will be on the hook. Have it repaired at a third-party at your risk that the rental company rejects the work as unsatisfactory and does it again.