That "box" is a "ratio adapter" and GM did put them on many vehicles.not just 4x4's...Stewart-Warner had gears available for calibrating the speedometer for different rear axle ratios and tire sizes..
My speedometer cable or the speedometer itself in my pickup starts making some disturbing noises and the needle gets twitchy till the cab warms up,this time of year when it gets below 40 degrees,but so far the cable hasn't broken...
I would replace the whole cable,I have not had much luck with those cheap "cut to fit" universal ones,and 90% of the time it is the cable housing that chafes over time,and causes the inner cable to fray and break...
I had a hard time finding a new complete cable 20 years ago,last time I needed one--found some NOS ones at a swap meet ,parts stores listings were incorrect length when I needed one for my '72 K5..