Welcome to 2CarPros.
Honestly, cut it. That has nothing to do with the pressure monitor and won't cause a leak. It was most likely a tag on the new tire before it was installed. If you are really concerned about it, you need to have the air removed from the tire and the tire bead broken to completely get it out. However, I see no need for that.
Let me know if this helps or if you have other questions.
Sunday, May 5th, 2019 AT 8:06 PM