The decision to replace depends on two factors, the likelihood and timing of failure, and the consequences of a failure.
The tire isn't ultra-likely to fail imminently, and will most likely announce you're near the end by showing some distortion as the cords begin to separate. In my experience the amount of warning can be short, like an hour or less, or as long as a week or two.
As for the consequences, despite the fear mongering on the forum, front tire blowouts do not usually lead to crashes (though they could). I've been riding bikes 45+ years, and been in the industry almost 40 years, including 5 at retail in a very large shop, and in all that time I've never heard of a single 1st hand report of a tire blowout causing a crash. Over those years I had my share of sudden front flats including some at good speed 30+mph, and witnessed a few, and again nothing worse then scratched up rims from not being able to stop fast enough.
But there are other consequences, such as inconvenience, and you should factor that too.
In short, if you live in a hilly area, do lots of fast down hills, ride far from home, or are planning a long tour, you should replace the tire. OTOH, if you use the bike for short hops around town, have decent bike handling skill, and are willing to risk a walk back home, then you can keep riding until you get signs of imminent wall failure.
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