but in this application it's being used to adhere a backing plate to the inside of the hull...Why would you want to remove it ?
1- 5200 makes a pretty poor choice for distributing backing plate loads evenly along the underside of the deck. The best bet is to wax the backing plate, mix some polyester or epoxy resin into a thick peanut butter consistency with milled fibers and cabosil then draw it up to the underside of the cleaned & prepped deck with waxed bolts.
Now let it cure then remove the plate and clean up the bolts. This process distributes the loads of the backing plate evenly over the plates entire surface and reduces point loading in a few small spots. 5200 compresses easily and thus does little to nothing to minimize point loading of the backing plate. Unfortunately the underside of decks, especially when close to transition points like a deck flange, are anything but even. You ideally want a backing plate to sit evenly on the underside of the deck and to be well supported for even load distribution.
2- Deck hardware should NOT be sealed inside the boat. The only seal should be on the outside. Why? Because when, not if, the deck hardware eventually leaks you need to know about it. We have HUNDREDS OF THOUSANDS of boats bedded with 5200 & similar with sopping wet decks. Sealing the inside only makes this worse and can lead to a failure of the bolts themselves..
Sealing the inside only serves to trap water from an exterior leak in "no mans land" which can;
A) force water into the core rather than allowing it to drip out so you can see it and address the problem. I recognize most people ignore deck drips but if you are reading this thread you probably are not one of the hundreds of thousands of boat owners who ignore these issues..
B) cause crevice or pitting corrosion of the bolts where you can't see it. This can lead to the failure of a stanchion or other deck fitting which can then become a safety issue..
Seal the deck side only and try your best to make the backing plate evenly distributed over its entire surface area...