Lol, had a spare part after taking off the tank and airbox. A flexible rubber cover. Finally found it on a parts diagram - it covers an electronic module in front of the battery.
I won't believe it is to keep rain away with that hole right over the connectors...
It might be a heat shield to limit rising hot air flow to the tank.
I can figure a 2nd use, when disconnecting the fuel line; you still have to put a rag to capture a couple cc of fuel but at least it's not dripping in unwanted places.
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