If you have the confidence to attempt - the fix here is a stubby bit, air ratchet, and an adapter chuck for a 1/4 drive. 3 inches, and 4 inches, is a pretty big difference. 4" this seems possible, I'd at least get the tools out and start seeing what fits. 3 is another story. "Air ratchet drill chuck" in google shows you what I'm talking about, there's a variety of heights. I don't think you're getting a regular angle drill shorter than the ratchet/adapter setup. Promaxx is the slimmest version I see just taking a peek, mine are about that height. The flat-head air ratchet from SP air, the 1/4 is probably 3/4" thick, will get in there. Email Promaxx, they can probably give you the total height of that ratchet and chuck, you can work backwards from there. Maybe cut the bit down, depends on installed protrusion, and you still need to drill to depth. You can cut the bit short, drill until it can't go further, then leave the whole thing up in the hole and re-adjust the amount of bit sticking out. After that you will probably have to cut the tap in half, and cut the installer tool in half, and use something like locking needle nose vise grips to drive them carefully. Threaded bit angle drills exist, but I don't normally see bits above maybe 1/4. I'm guessing these are ~M8 threads? You can potentially do that repair, in that space. But if you have an issue, you now may have a bigger problem than when you started.
If that lower hole is stripped, my gut says the upper is not excellent. The "correct" move here is to remove the trans, and repair. However if you want to gamble some wasted money on tools, and the possible damage from a bad helicoil attempt, you have a lot to gain. If it were me, 4" I'd probably try. 3" I don't think is realistic. Also be aware that slave cylinder has a lot of torque on those bolts, it's fighting the pressure plate.
If this was a POS, I would consider an 1/8 diameter 90 degree die grinder, and a mirror. Clean out the loose thread as best you can, then try to run the tab straight into the case. You could also turn the bit by hand (just to remove what's left of the threads) but this is a massive PITA, slow, and gives an inconsistant hole size. Being it's a nice car, I'd recommend doing a good job.