I'm stumped on this one.
IMG_5303.jpg IMG_5304.jpg IMG_5305.jpg
I think what happened is the depth stop was raised all the way so that the edges of the metal were below the edges of the mortise, and then the wood swelled a little bit basically creating a mechanical lock.
My only idea so far short of removing some wood would be to bow/bend the steel just enough move it up above the edge of the mortise. The depth stop is already bowed a little bit as seen in the second picture, maybe from the wood swelling, so it looks like it might be doable without causing too much damage.
What say ye plane restoration aficionados?