When I first got my truck I found that the transfer case had broken at one of the bolt holes on the case for that brace. Upon further inspection I found that a previous owner had removed the motor mount to trans inspection cover braces, had left the transmission mount unbolted, and had installed a reman engine on busted motor mounts. The guy I bought it from had been driving it around town for a couple of years like that and swore he had no idea.
Long story short, replaced the motor mounts and transmission mount, found the motor to trans braces and replaced them, drilled out and installed a helicoil in one of the holes on the trans inspection cover that was stripped out, replaced the transfer case and made sure to include the brace when the new transfer case went in. The 88 suburban I got the transfer case out of didn’t have the brace on it and from the looks of things hadn’t had it on it in many years. Didn’t look like it saw much off-road use though, transfer case looked mint on the inside when we opened it up.
IMHO the braces are a hassle when working on stuff under the truck but I’d much rather have them on there than run the risk of breaking parts even if the risk is slight. I mean, why not?