Except, some of us, who KNOW this engine, and actually HAVE ONE IN OUR BOATS, have suggested what the OP should do, first. He is simply MISSING THE HOSE that BELONGS on that fitting. THAT IS ALL, for now. I have the same engine he does, and have been running it for 23 years.
Last time I looked that is the entire purpose of these forums, to find folks who can give you the right answers. I didn't have this "luxury" back when I bought my boat in 1998!
Except some of the answers are from people with different engines, who have no clue about THIS particular engine. Look, Rick, I don't answer questions about Yanmar engines BECAUSE I DON'T HAVE ONE and hesitate to make analogies for equipment I do not have personal experience with. I think it's misleading for folks to do that, so I don't and hope the OP understands the differences.