I dunno. Honestly the first thing that came to mind was to bend some 14" round stock into the shape of the outline of the knee insert and tack-weld it into place on the tank, then tack some more, and tack some more until your tack-welds are say a half inch apart, going slowly so that nothing warps. Then repeat on the other side. When you've got your outline frames tacked on, you can start pounding your knee inserts in, I'd go with one side first, go slowly and get it the way you want it, then do the other side even more carefully to match.
Then you fill the edges in with a little body filler and sand smooth.
That's how Indian Larry did this tank, I always thought it'd be the easiest way to add knee inserts with a cool flared edge.
That dent might not even matter if you go this route...