That brace belongs in that fender because the outer edge is quite flimsy. It was originally bolted to the bed with one of the bed to fender bolts and the outer edge was riveted with two rivets. The vendors sell screws without slots that look just like the rivets when installed. I would definitely put a brace back in there if it's missing.
If it's a clearance problem then it's been lowered WAY to much because there is a LOT of clearance on the stock trucks.
Denny Graham
Sandwich, IL