The "V" notch is for the cap to partially fragment to the front allowing easy purchase for removal & to direct any escaping pressure to the front, away from your shiny eyeball. With hammers that don't have this feature, it is a good practise to make this cuttout with a 3 cornered file.
: When removing the hammer for this modificaton, do it with the lock OFF the gun. If you try to PRY the hammer off the tumbler, you stand a very good chance of breaking the tumbler. The hammer must be removed with a punch that fits the threaded hole without damaging the threads.
Daryl