The British Newspaper Archive has a piece in the Ipswich Journal from 25th Feb 1727 which I haven't viewed fully but it says something about "by Col. Nathaniel Hodges and Colonel Williamson(?) to his Majesty, who was pleased to confer the Honour of Knighthood on the said Col Hodges, Colonel of the Second Regiment of Tower Hamblets."
So it looks as though that answers the question of "at what time he received the honour of knighthood".
Found the full story in the London Gazette:
http://www.london-gazette.co.uk/issues/6558/pages/1
(it is Feb 1726/7)