I would leave it alone. If you want you can "bridge" the two wires together and that will complete the circuit, but the TPS helps to maintain better throttle response by changing the timing. I wish I had it on the Z.
the t.p.s. or throttle postion sensor is located on the carb itself not the handle bar to bypasss tors all you have to do is close the circuit and then install yz450 twist throttle and you' re done it does nothing to change the t.p.s. hope this helps :yfz