Oncidium alliance plants have sympodial growth habit, like Cattleya and others that get successive new growths from near the base of a mature growth, gradually elongating the rhizome in the process. This really appears to be a fairly typical new growth of that type rather than something that would be described as a keiki, perhaps just pushed upward somewhat by crowding. If you remove it you would be holding the plant back from growing, probably delaying any chance for developing a spike, and creating a weak single growth division. It is your choice of course, but allowing the plant to grow and develop normally would probably be smarter.
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