I was planning to replace an existing ceiling fan. The photo shows the current wiring situation after removing the old ceiling fan. The Neutral wire is alone, I’ve pulled it off to the side and taped it for now. The Hot wire, well, there are 3 wires. 2 of them seem to be going through a small black square clamp, the third is wrapped around the clamp and 2 clamped wires. Then, near the end, is a wire coil with just 1 wire coming out the other end. I have never seen anything like this and am unsure what to think of it. The old fan was connected Neutral from the fan to Neutral and then Hot and Blue from the fan to this contraption of apparently hot.
Do I need to make changes to how this is setup before installing the new ceiling fan? If so, what would be recommended?