I had the same arrangement on a 2007 Hunter 45CC. One wire was +12, -12, and a third varied with a voltage as the dimmer was operated.
I wired my new led replacements between the -12 and the third wire with the variable voltage. The led lamps were a bit brighter
Here’s the story
The 3rd wire is a PWM signal from the dimmer control unit
You can use these fixtures as on/off by connecting the control line to the 12v+
But, I assume you are putting in led fixtures
What you’ll need to do is put in a standard led dimmer which is controlling the blue wire, from where it is originated.
On the 49, this is back at the breaker panel.
So, you’re going to need a 12v switch with dimmer. A number of options are available
I assume you will be replacing the fwd & aft cabin lights as well
These are easier, as there is an off/on switch already installed. Just replace this with the new dimmer.