Not seeing a drive shaft being only 5 inches, the oil pan is generally a bit more then that and its not sitting on the bottom.
What motor is it?
In any case, the pic below is an Alpha and your in the VP section, but distances are the same, because the VP and Merc uses the same key hole cut out, and the same motors, mostly
In the pic, the first hole is the exhaust, the next is the gimbal bearing. Once the drive shaft has o rings which fit inside the bearing when installed. Now the drive shaft and center of the bearing is sealled, so only way for water to get in, is thru the bearing itself
