Two videos will give you an idea of what's involved, from repairing/splicing a single wire to dealing with the whole wiring harness.
In my case, the rear wiper stopped working and the break in the very flimsy wire was really obvious. Spliced in a 6" patch. The bad one to have break would be for the rear hatch solenoid to be stuck in the locked position. Given the age of the my car and the hassle of removing all kinds of trim, I might opt to make a neat slice in the grommet/housing to give some working room, and then seal it with silicone. Opinions?. . .
Thanks for posting the videos.
In regard to slicing the flexible boot, it might be a challenge to establish, and maintain, a long-lasting, water tight, seal along the length of the slice, given the zig-zag shape and the need for the boot to flex.
The loss of control of the rear gate latch lock solenoid would indeed be problematic (although it can still be unlocked manually from inside). However, there might be other wires that could lead to equally if not more serious issues. For example, the wire to the back up lights. When that breaks and shorts to ground (when the transmission is put into Reverse or even as moving the select lever between P and N with the AT) it blows fuse #18 in the cabin fuse panel (2005-2009). When fuse #18 is blown, the headlights don't work!
Similarly, if the wire going to the high-mount stop light shorts to ground, the stop light fuse can be blown, not only disabling all the stop lights at the rear, but also the shift lock solenoid (AT) which limits movement of the gear select lever into and out of Park.
There's quite a few threads here related to breaks in the wiring to the boot in the 2005-9 model years.