As I said: remove the ScotchLok, and inspect/repair the Red (Orange?) wire as needed. The ScotchLok wraps around the target wire, so just unwrap its blue cover & then pull the truck wire out of the little metal barb inside.
The other (black w/yellow crimp) SHOULD come from the binding post, and it SHOULD go to the relay that feeds the Red battery cable. (But it's hard to tell from your pics how the relay's power side is connected to the truck.) So you can either leave it as-is (w/o the ScotchLok splice, the relay will never turn on), or unplug that LB connector to kill power to the binding post & relay.
I got the ScotchLok removed and the wire did not look damaged so I wrapped it in electrical tape. I disconnected the other wire and capped it off. I tucked all the other wires out of the way. So I can easily reconnect everything in the future if needed.
Thanks for the help.