Fixing rust hole ideas

[DEF4Runner]

Nearly every school of thought out there discourages the use of fiberglass/bondo to fix these kinds of holes, but would it really be THAT bad with something this small and in THIS location (Southwest of the rear license plate)? I thought about shooting it with some rust inhibitor and using one of those Bondo self-adhesive patches in the back, then filling it in with bondo up front.

I'm also open to other ideas...

Thanks.