Here is the rack that fits inside of the square hatch.
https://www.austinkayak.com/Hobie-Ta...ACK12534P.html
Check the various pictures.
Nor sure what the leash and the red gyzmo is. Perhaps to attach it for security.
As to live bait container, I am not a fan. I am worried about the extra weight and higher center of gravity when the tank is full of water.
Turning a flipped kayak with all the extra weight is not going to be easy.