If you can require the module from a local script it means it’s running on the client environment. That means that the changes the GivePlayerItem function makes aren’t being replicated to the server unless remotes are evolved within that function call.
So pretty much it’s pointless to argue if this is exploitable or not because it’s fully client-sided(like an exploiter loading random things) and has no impact on the server/isn’t being replicated(unless you have remotes set up for this that the function uses to communicate with the server).
Yep, the above reply sums it all up.
If this is on a LocalScript, it means that clients can manipulate this as much as they want.
What you want to do instead is to run this on the server instead, and thus exploiters will not be able to manipulate the player argument or the hit argument.