The figure represents a child god in a seated/reclining position, wearing the Hemhem crown. The child god is usually distinguished from adult gods by a range of iconographic clues: his nudity, the finger raised to the mouth (a child-like gesture), and the thick sidelock attached on the right side of his nemes. Here the figure’s hands are both held at the sides, but his nudity and sidelock suffice to identify him as a child god.

Child Gods grew in popularity and cult from the Third Intermediate Period onwards, rivaling even the most powerful and ancient gods, especially as temple offerings. The best known is Horus the Child (Harpokrates), who was the son of Isis and Osiris.

See last picture as a parallel: https://www.metmuseum.org/art/collection/search/570706