Yup, cycle it at least once a year. Also if there is a locking lugnut type thing on there make sure you have the key. Lost count of how many people have lost the key for the spare tire and we have to cut the cable to get the spare tire out. Of course they also have a flat tire when this is all happening.
seem like there could be issues with that system...must be reliable if they don't regulate it like many other vehicle items.
...here's a regulation I just discovered being on the state line often out to dinner and such...wow! I had the hitch in the receiver quite oftern now that gets you pulled over and cited..WTH
Bill HB 5610 “to prohibit a trailer hitch or receiver to protrude from the back of a vehicle unless the vehicle (car or pickup) is towing a trailer.”
was in there rust proofing and the system all worked, looked to be plastic crank and stainless cable although <10% freyed..just seems like a back up chain for safety might be prudent...lol...I can imagine what some of the junk tool'n down the road has in this department...I'm keeping a good distance knowing this.
It's rarely the cable itself that fails if the rest of the system is kept in good condition. Be sure to operate and lube/weatherize the winch portion of it to keep it usable when you really need it.