Recaulk CI pipe joint

When I bought my 1923 house, a section of CI pipe had been replaced with PVC. The pipe went up into the joists, jogged over and then into the wall cavity behind the kitchen. The jog (one piece fitting that I'd never seen before), appeared to be sitting on the sill plate.

I've been demo'ing the kitchen for my remodel and uncovered the CI pipe. It's in great shape, except one for one joint. The lead is up out of the joint by about 1/4". It doesn't appear to be leaking, that I can tell. Should I do anything to it?

Do I need to recaulk the joint? Is that the correct term? Hows it done? I don't want to replace the CI. I'm afraid that the rest of the stack is just floating by hanging on a 1.5" copper drain pipe in the kitchen ceiling.

I'm usually a don't fix it if it ain't broken type of person, but then the only valve that didn't get replaced in my bathroom remodel broke...

Thx
Jason

If it is not leaking and shows no sign of leakage, I would not bother. If that joint is a vertical joint, it may be that the collar was not on right when they poured the lead back in the day. Any repair you try yourself will likely only make matters worse. If you are going to try to repair it, I would find the oldest plumber in your area and see if he is interested in melting some lead. Otherwise, you can cut out that section of cast iron and replace with pvc.