I am up to my eyeballs in Youtube recommendations now about this water pump and similar - this basic design is used by a number of car companies and some have a rubber piece, but most have only a plain curved metal portion. The belt is nowhere near the curved protrusion as it wraps around the other side, at least no closer than it is to every other surface on the engine. Probably it did serve some purpose and the design has just been copied over even though that purpose no longer exists.
Some very similar water pumps have an inlet opening under that area and an arc of metal carries over it to support a boss and bridge the load from the boss to keep the thin section from cracking, but that isn't the case here.
If the belt made contact with the rubber, it would rapidly abrade the rubber piece. If it was able to reach the metal the belt would then chew into that. A large area of rubber against a small piece of metal can do a lot of cutting.
Except for the fact this is driven by the timing belt and a lot of trouble to replace, I'd suggest the OP saw it off and see what happens.