Nice diagram, Tom. NMEA 2000 was supposed to not repeat the connection nightmares of 0183, but if the hardware permits the incorrect hookup you indicate, then they've missed the mark again
Donalex - yearly mast removal is the norm up here too but just about no-one seems to have the connections made sensibly. I've seen everything from flying twisted wire (yearly twisted and taped, then just yanked apart at removal) , to terminal strips, to mil-spec Amphenol connectors.
Back to the OP - yes it is possible to cut and then splice the NMEA 2000 cable. Well made, soldered Western-union splices then taped or tubed will work. For some it might be simpler to make crimped connections:
The first is a butt-splice, the second is a closed-end splice, which I like a bit better because you first twist the wires together, it's only one crimp, and it's easy to weatherproof by squirting 3M 5200 into the single open end. leave slack in case the splice ever has to be repaired or remade.
Regardless of splice type, it's best to locate the splice somewhere where you can always get to it. Never bury any interconnection in inaccessible places.