That's WITHOUT the relay being plugged in correct?
If so then that's a problem, if battery voltage WITH key ON is 12.4v then one of those slots needs to be 12.4v
In this picture:
https://www.therangerstation.com/forums/index.php?attachments/3a6fe9ed-b82b-4513-bbbd-48651f0198ff-jpeg.68192/
It should be the RED wire, that has the 12.4v, it comes from the EEC Relay
The tan/green wire is the wire that runs to the computer, in above picture, thats the ground
The double wire(orange/blue, should be the OUT to inertia switch, so 3 or 4, and don't care about those, but just FYI, one of those double wires DOES run back to the Computer, it "tells" the computer the fuel pump relay is sending 12v to the pump, so just a monitor wire nothing to do with fuel pump relay working or not, or it the engine works or not, just a monitor
Here's the issue with testing voltage, and why it needs to be EXACT
A Volt meter draws no AMPs, a relay, light bulb or a 12volt device of any kind, will draw at least a 1/2 amp, minimum
When you are testing a wire with no device connected, it should be EXACTLY battery voltage, if not then there IS a bad connection somewhere between that end of the wire and the Battery
The reason to test battery voltage with Key ON is because it may be 12.6volts key off, but 12.4v key ON because other systems are now powered on, so are using AMPs which drops the voltage
12.4v down to 11.8v is a BIG voltage drop for a 0 AMP load on that wire, which means there is a bad connection
Check the EEC relay, brown base, it has the above RED wire OUT, it powers the Computer(EEC), the fuel injectors, most if not all solenoids, sometimes the spark system, and the fuel pump relay(red wire)