Let?s do some ABC experimentation?
Let's suppose that your OB has manual trim, so set it to 90?, that's perpendicular to water level as in pic.

Distribute deck weight evenly..
Make a wot test as indicated and check if prop aerates on close turns on calm water cond. If not, height is ok, assuming that there's no water splashes towards transom or over it which is no bueno to have as will slow combo down due to lower leg achieving more unwanted drag.
The only way of knowing if OB sits at the sweet transom height is by visual over transom inspection to "determine" which is key if prop is doing it's homework right. Type, size, OB-HP doesn't matter since it's a matter of individual set up adequacy as all are unique.
By visual inspection will know if OB needs to be raised or be lower a bit. Raising is easy, lowering is a PITA if already sitting on top upper transom.. All other forms of water experiementation dialing sweet OB height are just useless wild guesses while losing precious spot on boating.
Ideal height for recreational purposes is as in pic, achieves nice hole shot, fast plane, no prop areation at tight close turns, all these at wot speed. Max fun is fully guaranteed..
Try it , report if water performance bettered, combo seems to just need fine tunning a bit actual configuration..
Happy Boating