Q.The Very Top Of My Ocotillo (on It’s Main Trunk/arm) Is Turning Black. Is It A Fungus, Past Watering Issue, Or Something Else And
how do I treat it? I’m not sure if I need to treat with insecticidal soap, leave it be, or even trim it off. Thank you in advance!

Certified GKH Gardening Expert
It looks like the new growth above it is normal so consider leaving it for now. The black leaves will probably fall off. If the whole cane dies you can remove it. (You could cut it back to clean wood, but then it will branch out, ruining its look.)
Make sure the plant is not getting too much water. Here is more on how to care for ocotillo:
https://www.gardeningknowhow.com/ornamental/cacti-succulents/ocotillo/ocotillo-plant.htm