Triaxle ,

If I were in your shoes I would not be in a hurry to swap out the lanyard ring assembly , especially if it is of the same vintage as the revolver , albeit British. While it is probably not original to the gun , the replacement you buy will not be either.

Any and all speculation about who installed that ring , and why he did it , will end with the upgrade.

At the very least I would hold out for an original rather than repro. (if such an item is available...?)

That's my $.02. It's your gun.