Help identifying component

It would help if we knew what it came from, what the PCB designation of the component was (D1, Z1, C1 etc)

It has no designation but is connected between the 24V and 0V of the power supply on a hydraulic pump controller. There is a dead short between 0V and 24V due to this component, so thinking it's a Schottky diode.. just need to know what to replace it with.

I would imagine it's just a reverse protection diode?, so goes short if the supply is connected the wrong way, and blows the fuse. Any similar shape shape and size of diode should be fine, it just has to be able to withstand the voltage (not difficult on 24V) and have a high enough current rating (I imagine most diodes of that size will be fine). What value fuse feeds the board?, presumably that blew?.

Also, does the board work perfectly without it? - making absolutely 100% sure NOT to connect the power the wrong way - as it has no effect on the operation of the board.

It could be a TVS diode, which is a Transient Voltage Suppression diode. It behaves much like a zener and clamps voltages that are too large. If a single direction TVS is used, that will also act as a reverse protection diode by shorting out reverse voltages above about 0.6 V.

TVS diodes normally fail short circuit when they have been absorbing too much energy.