[link to original on tumblr]
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In any case, there are few interesting things about this:
1. It's an-other instance of a chromatic phrase in one of Argent's songs. Usually, they're three-note phrases, but this one is longer.
2. As a descending chromatic phrase on Odessey and Oracle, there's some connection between this, the backing vocals during the choruses of "Maybe after He's Gone" (chromatic from E to C#), and the bass part during the verses of "This Will Be Our Year" (chromatic from A to E). Descending chromatic phrases are a feature that's present in multiple songs and give the album a coherence.
3. It doesn't fulfill the definition of a lament bass (it might be a perfect fourth, but it's certainly not from the tonic to the dominant, and it's not in the bass, rather it's sort of hidden in the chords), but as a descending chromatic line, it fits with that tradition, and so do the lyrics of "A Rose for Emily."