You will need to take of the axle nut. And will require a torque wrench that can go up to 175ft/lbs. I can swap out a wheel bearing and knuckle in under 30 min after all the times I have had to do it recently. If it's your first time I bet it would take you an hour or more. You don't have to remove the steering links or the knuckles, you don't even have to pull the axle shaft out. Though It would be a opportune time to change out the shaft u-joint.
Also the wheel bearings are pretty pricey. Expect to spend $75 to $125 depending on what brand and where you get it.
'03 TJ Sport
/ D30/Ford9 / 35x12.5x15 KM2 / D window black steel 15x8 wheels / 3" custom long arm lift / SYE & 1350 DS / JKS BL / 1" MML / Smittybilt's front bumper, Tube fenders, Rocker guards, and rear bumper / High Rock Tire Carrier