You didn't mention what year your truck was, but some GM receivers were recalled for cracking. I believe the years were between 1999-2005.
After about 5000 miles of towing my travel trailer, I noticed the receiver tube was wearing out with the pin hole becoming elongated as mentioned by Truly Vintage above. Bought a new BW receiver for my 06 Silverado.
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Ed
1968 GTO (Thanks Mom)
2006 Silverado
2015 Chevy Express 
2024 Cadillac LYRIQ
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