Will an sds drill new holes through concrete posts?I rate your chances of knocking out those rusted bolts without ruining the posts at somewhere in the low zeroes %. You could in theory drill them out but I can't see that it would be worth the candle.
You would be better off cutting them off flush [if necessary] and carefully drilling new holes. Presumably drilling vertically in line with the existing holes will avoid the rebar, if there is any.
I asked about these in fence shop but just got told to screw on 3 x2. What they look like?There is a wide variety of metal brackets for securing fence to concrete posts.