my gut says no. but i am no electrician
I agree.Looks like a hack job. My gut says the inspector won't go for this.
"Conduits shall be properly terminated into the enclosures...."
Uggghh. That will look worse and attract more unwanted attention from the inspector in terms of suitability for application inside a service disconnect panel. Plus, out-gassing of the silicone as it cures is no friend to electrical contacts.I'd try to "dress up" the panel penetration that you chewed your way through with a screwdriver or chisel with a bead or 2 of gray or silver silicone.