Could be a few things. First check that the pee hole isn't stopped up with trash. Depending on where you live there are dirt daubers that loves building nest in places like that. If the water pump was changed prior to you noticing this then I would be sure to check that the water tube going to the block was connected properly. You could also drop the lower unit and place in a container full of water and spin the crankshaft and see if water is pumped out.
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