This is just my story. We all know every horse and owner are different. Equine medicine has changed light years since my horse was diagnosed in the early 80s.
My first horse was diagnosed with ringbone in one back leg when she was about 4. Since I only rode her about 2 or 3 times a week, my vet instructed me to bute her the day before, the day I rode and the day after. He also told me that eventually the joint would calcify over and that would relieve the stress and pain. The weeks she was off more than usual, I did not ride and gave her more bute.
After a few years, the joint did calcify and there was no more pain. The down side is her foot was permanently cocked to the outside slightly. This did not bother her at all. She was about 8 when this happened and I had her until she passed at 31. We had a great life together. We rode Western, English, learned to do small jumps, did lower level dressage, a little reining and she even became a beloved lesson horse for the very beginner riders.