1965 barracuda spare tire cover question

grimreaper said
The spare is covered with a Masonite board about 1/4" thick. The board was covered with the same style jut pad that was under carpet in the passenger compartment and the trunk carpet laid loose on top of that.

I think I’m going to go with the 1/4 plywood since I have some on hand. I’ll waterproof it. Does the board touch the inside quarter panels?