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That is a fuel temperature sensor. It is generally considered unnecessary. Virtually all aftermarket rails do away with the sensor altogether. Personally, however, if it is possible to run one (i.e. using OEM rail), I absolutely would.
That plug is a TE/AMP Econoseal J Series PN 178392-6
And I second the suggestion to avoid those wire seal connectors in the engine bay. They aren't rated for exposure to temperatures over about 250 degrees. You can generally bet on our underhood temperatures exceeding over 300 degrees and certain areas - like trapped under the UIM - will greatly exceed that. Between the high heat and the temp cycling, those won't last very long.