That is the cable cover, known for water to leak past the screw threads but also
IIRC that area is a low spot which allow water from the drain pan to overflow.
I used something like butyl rubber (3M Window Weld) to build a small dam in the low area and put some under the cable cover, IIRC it would go where the foam strip is now. You should also use a thread sealer on the threads of the screw when you reinstall it.
The bigger picture is that the sunroof may be allowing too much water past the
gasket around the glass and that can overwelm the ability of the sunroof drains
to empty the drain pan fast enough. That can be made worse if the vehicle is parked on an incline front to rear, rear to front, or side to side, like tipping an almost full bowl of water will make it overflow.
One other thing you should do is check if the sunroof has sagged down. You can push up on the (closed) sunroof glass while sitting in the vehicle and see how much the glass moves up. If it has sagged there are shims that can be added to the mounting studs to raise the runroof, three on each side of the sunroof. To get to them you have to remove the plastic trim.
WARNING: that plastic trim IME is difficult to pry off and very brittle with age/sun exposure, so expect to break some or all of the pieces.
With the sunroof glass removed some people have stuffed a very thin strip of ?? under the gasket to push it outward for a tighter seal, but if you put something too thick the runroof might not close. Others have cut a bicycle tire lengthwise and wrapped it around/over the original gasket like a big rubber band.
Also, if you remove the glass you can clean the gasket well with soap and water and then apply a rubber revitalization grease, might help a tad.
Of course, make sure the drains are clear; most people use something like weedwacker string, doubled up if needed, but don't expect to see the string come out anywhere, the front drains empty into the rocker panels so you only need about 4 feet of string up front. The rear drains come out on the inner side of the lower quarter panels you would need a very long piece of string for that. You can pour some dish soap mixed in warm water down the drains to clear out any muck. Do not use anything much stiffer than weed wacker string
or compressed air as you risk pushing or blowing the drain hoses off the drain pan nipples.
All the above has been discussed in the past, try some searches in the 80 forum for terms like Warped cable cover, sunroof leak, weed wacker string, etc, etc.
FWIW