Don’t know why it comes up sideways sorry
It looks to be sealing the decorative copper wrap put over the original pipe material.
It looks like they are trying to make a copper flashing of some sort. Similar to a lead flashing which encapsulates the entire pipe and wraps around the top of the pipe. Not a very good method. Call it out.
Anything wrong with that?
Ahh, ok thanks
It is not properly terminated and that sealant is temporary. You will see it molded/hammered over the top and bent over into the pipe or a termination ring.
I agree, call it out.