According to Apple, error 47 signifies the following:
"If you have Error 47, it is a hardware problem with the phone's baseband or IMEI. Check your IMEI or Baseband"
Unfortunately, to my knowledge, this is a hardware error that cannot be fixed without board level soldering or a logic board replacement. It looks like the logic board will need to be replaced for this issue to be sorted out. I wish I could say it was something that a software change could fix, but in this case, it's going to require new hardware. I would look into cost effectiveness of getting a new logic board vs. sending it to a specialist for a chip replacement vs. buying a new phone and selling your current one for parts. If you have Apple Care or another extended warranty, this should be covered as a hardware defect, and you should be entitled to a repair or replacement. Let us know what you find.
Hope this helps!