That stainless rod is a cosmetic cover, concealing the business end of the lift mechanism.
When I service my lift mechanism, I transfer the mass of the hatch to the factory installed prop rod and remove the lift for service. BE VERY CAREFUL because the hatch is heavy and can cause personal injury!
The lift mechanism has a DC motor with a multiple stage gear box. I disassemble that gear box, clean out the old grease and lube with fresh grease.
Underneath the stainless sleeve is a screw. I also clean and grease that screw.
Everything is then reassembled and the prop rod stowed.
