Im not even sure what the purpose of that cover is. My original 5.0 didn't have a large cover, just a round cover the same size as the flame arrestor that held it down.
Ehhh I threw that crappy looking thing away when I bought my K&N. Its chrome now so worth at least 10hp!!
Mine is the same.On my 5.7, the cover rests directly on the flame arrestor and a wingnut secures both to the engine.