Looks to me more like electrical tape than loom. I'd probably start peeling it off the wires to see what is under there. My guess would be a spliced wire. Regardless, after removing the tape, I would sleeve the wires with one layer of woven plastic loom, and depending on how much room was left, perhaps a second harder plastic layer at the chafe points. Scotch 33+ tape at both ends to prevent the loom from moving.
Would you consider making rounded notches in that pair of gussets for the loom to nestle into? A drill bit on its side would work.