As you said you have a 3/4 ton, then I assume you have a 2.5” receiver. If you use a 2.5”-2” reducer and a 2” shank to tow, then the wear is common. The hitch will always have some play, but adding a reduced will increase that dramatically, which put a lot stress to the pin. If you go to the ford super duty forum, you’ll see a lot guys use the OEM reducer and end up ovaled the pin hole. I started with a reducer and 2” shank, I also realize some minor wear after a 200 miles trip, and I immediately upgraded to the equalizer 2.5” WDH and a hitch clamp. My original reducer setup has almost 1” play side to side measuring from the hitch ball, that’s going to be a foot of sway transferring to the back of the trailer. You may also feel some sway if your pin hole wear that bad.
If your pin hole get ovaled really bad, replace the receiver or find a machine shop weld the hold and drill a new one. The equalizer 2.5” shank is expensive, I was recommended by a trailer shop to simply weld a reducer sleeve to my original 2” shank. Hope this help.