It's tough to say for sure, but I don't know that Belzer would have the balls to willingly crack his noggin open.
Here's what the web according to Meltzer had to say....
"During that appearance, Hulk put Belzer in a chin lock and
accidentally knocked him unconscious. Mr. T's pathological inability
to stop talking trash about the incident inspired Belzer to sue Hulk,
Vince McMahon, and the WWF for five million dollars. They eventually
settled for an undisclosed sum, but it's said that Belzer was able to
use the money he got from Hogan to buy a chateau in France that he
referred to as "Chez Hulk". Unsurprisingly, around this time was when
Hulk and Mr. T parted ways for good.
The lawsuit between Hulk Hogan and comedian Richard Belzer was just
settled out of court. Hogan was being sued for five million dollars
due to an incident that occurred six years earlier on March 28, 1985
when Hulk Hogan accidentally dropped Belzer and busted his head open
just prior to Wrestlemania. The settlement although it was an accident,
is believed to be a very favorable settlement for Belzer, which was made
to keep Hogan out of the negative light."