Spare wheel chain making noise

2007 Nissan frontier, spare wheel is under the box and is lowered down on a chain.
When the wheel is secured up to the underbody there is dangling chain that makes a clear audible clank every time I go over a bump.

Any ideas on a solution besides removing the spare wheel and chain?

I lowered the wheel and put plastic wire loom around the chain but that didn't solve the problem.

Some things are softer than plastic.

I wasn't looking for a riddle, more just suggestions.
:D

Can you re-position the chain so it hangs higher up? Or grab a caribiner/quick link and get rid of as much slack as possible. Would cost you <$1

Zip tie it up so it doesn’t make noise.