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Yep, it's the sensor for the low fuel light. Never were particularly reliable. The MG Cycle part appears to be of a different design, so perhaps it will work better.Presumably when you removed the tank you disconnected the electric petcock harness. The missing fuel sensor connection should share a bundle with it, so follow it back. If I remember correctly, the fuel light and petcock connectors are identical, so take care not to get them mixed up when putting everything back together.
MG Cycle has it for $30https://www.mgcycle.com/index.php?main_page=product_info&cPath=382&products_id=1171
This sensor is for an earlier Cal. The newer ones are much more expensive. Harper's had them at one point.Rich