Sure. It's all about "radio suppression". In the manual I have it speaks of the "early production system" where there were 7 suppressors, 6 filters, two condensers. Suppressors were used on all the high tension spark plug leads and also from the dist. to the coil. Of the filters, 4 were used in the generator circuit and 2 in the ignition circuit.
I had marked that wire when I removed the dashboard and I noted that it came off of the ignition coil filter. But that defies the electrical schematic, so I'm not totally sure why it was connected there. It might have just been holding the wire, because when I bought the "1942 Chevy Cab", it was just that. No frame, starter, etc.
BTW, the "hot" that comes from the generator to the ammeter goes through the (no surprise) ammeter filter.
Tony