Had a look at the 47 Ocean cockpit. Bit different from our 40 Ocean. We also have those large teak ply panels under the windscreen (bit pointless IMHO - I varnished and then covered them to keep out of the sun), but they don't connect to the coaming. The coaming is solid teak, several cm thick.
Replacing with teak/iroko is probably not worth the expense and if that's an area that gets stepped on a lot it won't be great either.
We tried some brown EVA foam (with teak stripes - a mistake) and it fell apart after 2 years - just removed the last bit. So unless you want to replace it regularly (it's cheap), that's not great either.
Lastly there's PVC fake teak as is sometimes used to replace teak decks, but the fake look will clash with all the real teak around it.
So in your case, I'd probably truncate the ply panels at the point where they leave the sprayhood and get stepped on, remove what's left of the worn bits aft, fill and fair top off with with non-skid paint for wear resistance and ease of maintenance.
