What does this steering shaft clip do?

There are/were cases where a technical service bulletin would show addition items in a repair kit that would not be shown in the manual.
A service tech would insert a replacement pin by hand and park this piece over that pin as retainer?
I don't recall seeing this particular item before or a related service bulletin ( although I did once read though a dang stack of them belonging to a seasoned tech about 30 years ago ). So... Imagination at play.