Any firearm with a visible crack in the frame or barrel should be discarded.
It’s not safe or reliable.
Para Ordnance, a high quality manufacturer, went out of business a few years ago, and the parts inventory for 1911-type guns were bought up by gun parts retailers and resold. I got a nice slide for a 1911 frame I had, matched it up with a Springfield barrel andd fitted it with a match barrel bushing, and it's a real nice gun.
If the crack is in the frame, it may be possible to adapt it for the less-sstressful ,22 caliber conversion kit, and have it see service for many more yearrs.
Depending on age and heritage, it may still have collector’s value. I have a 1911 manufactured in the Springfield Armory in 1914 - still shoots great but I could probably get $8 - $10 grand for it even if it wasn’t safe to put a lot of rounds through.