There's a minimum hit rating which you need (5% from gear). Any extra hit past that is not wasted. When it comes to full ICC 25hc and RS 25hc itemisation hit is actually your third best stat (after arp and strength).
As for your gear right now, if you can drop some hit in exchange for arp while maintaining your minimum hit rating then you should drop the hit. This is also the basic trend you'll follow up until you're either arp capped or you find yourself at some awkward rating like 1385. Do your best to not overshoot the arp cap.
P.S. If you are using T10 hands for hit and they're providing your 4pT10 bonus and you can't get it via the other 4 pieces, don't drop the hands.