Wiser words have never been written. The one and only time I needed the spare on my truck I had to cut the thing off the winch assembly. Thankfully I was in my driveway. Bought a new winch assembly, greased the heck out of it and now I drop it once in the spring and once in the fall and grease the cable some more.
Case solved! I'm glad GM doesn't use an extra part like that to remove the spare. Seems like they made it more complicated than it needed to be. Now put it where you won't forget it.
Yeah those are terrible to work with if your spare tire winch hasnt been operated in awhile or ever... I dont miss doing road side calls. That is usually in a thick ziplock style bag in the glove box or center console when they come from the ford plant.