Yes, faucets are serviceable.
Soak it in Kroil or PB Blaster, then clean it up with a hand wirebrush. At that point, the seams between metal pieces should be more visible. Then, call a decent handyman versed in plumbing to take it apart and replace the stem packing and any washers.
A highly competent hardware store will have that stuff in stock. By which I mean a local family-owned hardware store that's been there for 100 years type of deal.
It's true that they make cheap Chinese faucets these days that are 100% unserviceable, but this one appears to be old, and with a logo on it. So I suspect it is serviceable.
If the unit is NOT serviceable, then the valve must be replaced from the interior of the house. The end of the valve isn't where you think it is.
Consider a sillcock
I mistook this for a sillcock, because the faucet is not at an angle like a typical faucet, but square-on to the pipe (so the shaft can go down the pipe).
The sillcock is actually quite long and goes all the way into the interior of the house, where it's warm. The actual water valve is there. The purpose is to protect the valve from freeze damage. It will self-drain and is freeze-proof, if nothing is attached to it.
Sillcocks have certain rules about not connecting things to them indefinitely. Those can damage sillcocks. That's also why I thought you were having the problem I thought you were having.
