Those motors when tilted, leaked fuel out of the carb throats. The fuel sat in the lower cowling fuel drain "pan" until the motor was tilted down and then leaked into the water. Most of the time, you needed to reprime.
The PTT system on the 50HP motor is a bit different than the one original to the 850. I do not think they will interchange. The PTT system on the 115HP motor should work on the 850.
I would look into aftermarket PTT systems for that motor, as the original PTT systems took up space in the boat, the cylinders often leaked and repair kits were either not avail and if avail, were tricky to install without a special tool. Also, replacement PTT motors were hard to get. ARCO used to make them, but not sure if they still do.