Most often, you would need to replace the slip ring. But you may actually get lucky here. The images do not appear to show broken wires. It appears only the insulation has been pulled up, exposing the conductors to contact with the slip ring barrel.
These wires are a little strange. The insulation material is not firmly attached to the conductor that runs through it. And it is very flexible and easy to stretch. You should be able to hold the insulation on the other end while stretching the insulation back down the conductor and into the holes left in the epoxy of the slip ring barrel. (the insulation does not stick well to epoxy either, often leaving a nice, neat socket to re-use).
After the insulation on all wires is back in place, do a really good check to ensure all wires have contact all the way to the gimbal board connector and that there are no short circuits. The blue and red wires will show contact with each other, as will the black and yellow wires. That is normal. Just ensure there is no contact with any other combinations of wires.
The next part is harder to explain. The black plastic strap in the picture that holds the slip ring barrel originally had two small "wings" to hold the wires in place and to provide a margin of strain relief. It looks like the small wings are missing. You can use a small tie wrap or something similar to gather the wires against the strap and provide a similar level of strain relief.
If this repair does not work, then replacement of the slip ring is the next reasonable step.
