It's above, and to the left of the front door. There is a working sconce mounted above the same door.
Removing it revealed that there are wires inside, which makes me think that it's a junction box (just a guess - I'm not sure of its purpose). Regardless, I think it should have a weatherproof cover (the hole in this one is concerning) that can easily be removed & replaced in the event that electricians ever need access (this one was siliconed around the edges to seal it)
The box is round has 2 screw holes, presumably for attaching a cover, that are approximately 2-3/4" spacing. I searched for round junction box covers and they all seem to be 4" diameter these days. What's the proper way to cover this?