That may be a motor run capacitor, not an RFI suppressor. It's on the RPM switch because it assists with an additional winding to kick up the speed.
If so, a PP film capacitor is best.
I think it is a motor run capacitor. The motor isn’t getting up to speed like it did a year ago. I’ve lubricated the motor through it’s lubrication holes and nothing has helped so I’ve been wanting to find a replacement capacitor.
if that is directly across the switch contacts, I'd wager it is indeed an RFI supressor. Normally motor run caps will be tied from line to a third lead direct out of the motor.
of course I suppose its not impossible that some mfg cheaped out and used a general duty cap for the wrong task. I suppose if it lasted 40 years it can't be that wrong. I might be tempted to just toss in an equivalent modern part and leave it be for a few more decades.
This looks like an old "ceracap", which are usually some flavor of film cap stuffed into a ceramic tube.