At this point, time to find out where that bare wire runs to, either by physically tracing it or using a wiring diagram. Either way, since the wire is bare, I would replace the wire completely, who knows what other wire is compromised that may be laying next to it as it was melting. As you remove the wire by default you will most likely run into the shorting culpret.
Welcome to the forum and Pantera wiring!
Angelo
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