I'm not sure that is original and I'm confident nothing to do with the speedo.
It looks like an LED, perhaps an aftermarket alarm or even a fake LED to make it look like there's an alarm on it.
The speedo signals all go through the same large multi-connector inside that large rubber boot. There are no other connections into the dash.
I'd pull the boot and block connector off and check for any corrosion, cleaning if required (unlikely as it's well protected, but you never know). After plugging it back in, re-test.
If it's still not working, go to the other end of the circuit - remove the front wheel and check the speedo drive. Chances are it's broken and was dislodged by the speed bump. Depends on how bad it is as to whether it can be repaired or needs to be replaced.