Revert back to post #9 or get a friend (or someone qualified) that understands basic marine / automotive wiring to help.
Mistakes can be costly by allowing the magic smoke to escape and turning you project into a cinder.
Only downside of the tube is that if your engine doesn't run correctly (rich / lean or burn some oil), the tube will allow a film yo form on drive unit and the rear of the boat and a very slight increase of sound. Whereas the bellows directs it all thru the prop. The 4 cyl probably will sound a...
If you place it in forward gear (engine not running), the prop will free wheel, with clutch dog clicking loudly, when turned in clockwise direction.
Don't know if I explained it to you clearly enough, but from what I think you are saying, sounds like yours is working correctly.
Have you checked your fuel pressure at different speeds? Sounds like pump isn't keeping up.
Or, the fuel system supply has a problem, like a fuel line deteriorating internally, plugged tank vent, dirty fuel intake strainer or bad anti siphon valve.
I have seen some gauges that stay at last known position when powered off.
Think his best option is to power it up and go through the troubleshooting scenario's to find out what is really happening. Anything else, is guessing.
^^^^^
Like he said, disconnect the pink wire from gauge (as shown in the instructions sheet I attached in my 1st response). If it goes back down, then you have a short in the wiring or the tank sender. If it stays at full, your gauge is kaput.
Sometimes the float in the gear oil bottle gets goobered up and gives constant alarm, even when full.
3 possibilities:
Lube oil alarm
Oil pressure alarm
High engine temp.
All 3 are the same alarm with 3 sensors in parallel. Disconnect one at a time to see if goes away.
I would install a cheapie ol mechanical oil pressure gauge in a "T" where the oil alarm sender sits, pull the spark plugs and spin it over with the starter.
That'll tell you if you have oil pressure / wiring problem or not and if it's just a bad sender or a bigger problem.