You are right about the Bolts. They where 45mm long, I went to the hardware store and bought 4, 60mm long and had 3 threads showing under the housing.
The cut you are talking about Does serve a purpose in which it’s designed for. The Ax5 with stock transfer case & shifter. The Transfer case shifter mounting bracket fits perfectly in it and supports the housing from tiling as you stated. If you are not using this bracket than other style may have been a better choice.
Some ultra black sealant and not a leak anywhere.
AS for fit I must be an Ape with long arms Mine fit me great. :)