4 hp is plenty to get around on. Unless it's really windy, or you're pounding waves, or both. For protected water in reasonably calm weather, it's fine, IMO.
As to the long shaft, while you may be able to set a standard shaft up to get the ventilation plate at the bottom of the hull, the power head is likely to be low, making it hard to work the tiller handle, and reach the choke, and so on. I would hold out for a long shaft, or even an extra long shaft and use an adjustable mount so you can tilt the engine and raise the mount to get the prop out of the water if using a dock or mooring. The extra long shaft is good for rough water, where the off-center OB has a greater tendency to come out of the water when pitching and rolling.