There's a diaphragm inside that can break.
If this is the same unit, it's $79.99
https://www.vmpperformance.com/Bypass-Valve-BPV-for-2-3L-TVS-on-GT500-Cobra-5-p/newbypassbpv.htm
Yes I know, I need to find what caused it to rip.
I do. This has happened twice before until I found the problem. See post 45 in below thread. I'll be looking inside the s/c tomorrow to see if the same thing happened.