We need to find the term that is independent of \( x \) in the expansion of \( \left( x - \frac{1}{x^3} \right)^{40} \). Using the binomial expansion, the general term is given by:
\[
T_{r+1} = \binom{40}{r} x^{40 - r} \left( - \frac{1}{x^3} \right)^r.
\]
Simplifying:
\[
T_{r+1} = \binom{40}{r} x^{40 - r} \times (-1)^r \times x^{-3r} = \binom{40}{r} (-1)^r x^{40 - r - 3r}.
\]
The exponent of \( x \) is \( 40 - 4r \). For the term to be independent of \( x \), we set the exponent of \( x \) equal to zero:
\[
40 - 4r = 0 \quad \Rightarrow \quad r = 10.
\]
Thus, the term that is independent of \( x \) is the \( (r+1) \)-th term, which is the 11th term.