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I am assuming this is a 1994.5-1997 7.3 since the fuel pump is in the valley. @Sous can help you move it to the right forum for more accurate answers. A quick Google search tells me that is a Bosch electric fuel pump. Looks like you have an efuel conversion in that thing.
It looks like he posted the same question in both forums
OP, here is my response from your other thread. Sous, thanks for moving it over.
The upper part you are asking about was for the California trucks. IIRC you can remove it without issue. The power piece is the fuel pump. Unless you change to an electric fuel pump, you will need to keep the same style you currently have.