As that "recessed area" doesn't show up on early-war Parrott fuzes, I believe it is an evolution whose purpose was to allow the paper timefuze's tip to have "better exposure" to the flame from the cannon's propellant-charge. If I recall correctly, there's a late-war Britten fuze which also has a recess surrounding the hole for the paper timefuze.
Regards,
Pete