Help in identifying this electrical block / wiring

Yes, it's supposed to be there, and if it's not connected to anything (and the starter works) they must have replaced the entire cable somehow (after trying to "repair" it) as it's a connector in the positive battery cable going to the starter solenoid. Do a search using "PP120 Powerpole" for prior threads about it.

What year/model/version F -- you need to update your Profile!

You can see an example here showing one half of the PP120 connector:

https://www.ferrariparts.co.uk/part/ferrari/116414

(I think the other half of the PP120 connector is part of cable 37 here:

https://www.ferrariparts.co.uk/Diagram/ferrari/mondial-qv-coupe-cabriolet/045-electric-generating-system-(engine-with-2-belts)?part=116414

but MCP doesn't have a picture of that, and the items 7, 8, and 9 bits clamp the two halves together.)

 

If whatever they did was done properly, it would be OK -- but based on that "repair", and the fact they left a heavy disconnected cable in place, I'd maybe bet against "properly" and at least understand what they did do - JMO..

 

https://powerwerx.com/anderson-power-powerpole-sb-connectors

This is an Anderson connector. They slip over the cable ends and allow an easy connect/disconnect of the starter solenoid wire that in turn connects to the battery. Your car won't start if this connection is not working. It is probable the connector was broken/loose, and someone silicon glued it all together.

Probably just a matter of getting a new connector, cleaning the old cables and ends, slip fit the new connector on the ends, put the connectors together and off you go.

If the underlying wire ends with their large metal tabs are damaged, then replacing the cables and or splicing and crimping on new ends would be required.

We are lucky Ferrari used a commonly available connector for this item. The heat in that area and age means many will be brittle and need replacing at this point.