That is a speed sensor, but it did not come from a 4L60E, that is some kind of aftermarket design and looks to be threaded in. You would have to remove it and compare it in length and size to other common speed sensors then compare ohms to know if you are in the ballpark. That or you can start researching 700R4/4L60E speed sensor conversion kits and see what turns up. If you don't know what it is or is called, how do you know it's bad?