Epoxy is the glue to use. Make sure it will work for metal and wood.
But also, file one or two grooves ACROSS the threads (lengthwise up and down the insert) which will give the epoxy more to grip. If you can imagine how the epoxy will fill that groove, the threaded insert will never be able to “unscrew” itself out. It is ok to make the hole just a hair too big. You don’t want to squeeze all the epoxy out when you screw in the insert.
And like Mark said above, don’t use a flat head screwdriver in that slot. It will strip instantly. Put the insert on the end of a bolt, and tighten two nuts together just above it. Use a wrench (on the bolt) to screw the whole thing in to the wood. When the insert is flush, loosen the top nut. Then the bolt will easily unscrew out of the insert.
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