[v8volvo]

Good! That will be cheaper than a new rack, and much easier to install. Volvo dealer or a junkyard is probably your source for a new line. Sometimes hydraulics shops can make up a new line for you from scratch if nobody is able to sell you one, but that is rarely cheaper and often more expensive than getting a new or used exact replacement.

Your concern with driving it in its current state is not what it will do to the rack, but what it will do to the pump running without fluid, and what it will do to your local ecosystem pumping a few pints of dirty oil onto the ground. If you ensure that it is not actively leaking, and remove the belt from the PS pump, it will be fine to drive without hurting anything, but you will have no power assist until the system is repaired.

Glad it turned out to be something simple!