That part that looks like a disk capacitor is a varistor, and is there to blow the fuse if the power bus (AC power) experiences a voltage surge , transient that exceeds a set voltage over a certain time duration, usually expressed in Joules.
In most electronic circuits just replacing the blown fuse would allow the power supply to work, if the remains of the varistor are not shorted, and the rest of the circuit was not damaged.
Ok for testing, but not replacing the varistor would leave the circuit unprotected from surges and transients. Too low a value will blow again the fuse, too high a value would Not protect. The correct value will absorb most surges without blowing itself up.
JWCC