Here is a photo of a Prontor -S with more detail:
https://www.flickr.com/photos/29504544@N08/5672380312
https://www.flickr.com/photos/29504544@N08/5672694258/in/photostream/
Thus it seems electrical...
The Gauthier service manual calls it "Insulating Bushing". The location over an isolating plate with thereunder an electrical plate that is the live-pole (confirmed by the manual) makes that bushing likely a second live pole. As Donald indicated...
But what for??
Or is there a flash connector that gets its life from inside that enigmatic bushing and the ground from the PC connector?
Wouldn't such connector need its two poles being parallel, and not at an angle (due to being located on a curved surface)? Well, two single-pole connectors (at wires) would work though.
There was a period with flash connectors that existed of 2 male poles at wires, one for the life and one for the ground. You see such at the very first Praktica.
One could think that this Prontor shutter was designed to serve such connectors too. But at the Prontor a male and a female pole are needed.
The best explanation I can offer is that this shutter was meant to serve both a concentric (PC) connector, but also that connector made of two male studs at wires, but added with a hermaphrodite adapter for the ground pole.