FWIW, at the risk of sounding like a promo for Smith & Company, I would use their clear penetrating epoxy sealer. It is a very low viscosity product designed exactly for this purpose. It works by displacing the water in the substrate with the carrier solvent used in the penetrating epoxy. I have used it many times over the past 30 years with excellent results. Start by drilling 3/8" or 1/2” dia. holes in a grid pattern bounding the perimeter of the failure area. Then pump/vac out as much moisture as possible and then pour in the CPS and saturate the substrate. This may take 2 to 3 days; Smith has a slow-set version designed exactly for this purpose. (start with a wide hole to hole spacing, reduce the spacing until you have CPS spill over between the holes; do a test area in the worst spot first to establish the hole spacing, use small funnels to saturate the substrate; also be advised if you have a water leak into the salon from above that the CPS will find it, so be prepared by covering the carpets, you may encounter some headliner stains as a result) After it cures, I would follow with an epoxy filler in the holes, followed by an epoxy surface seal and a deck repaint. You can also use the CPS for filling in the flybridge deck screws mentioned in a prior post, followed by 4200. The net effect is your are sealing off a path for moisture intrusion into the substrate. Also mix in some anti-fungicide such as Penta to reduce the chance of mold and dry rot making its way into the wood in the underlying deck structure. I have used this product on both wood and fiberglass boats with very good outcomes. My most recent project was a 32’ offshore with a transom failure repaired as described above. I have the same problem as you on our 53MY and plan to repair it as described above. Worst case if the underlying substrate is not repairable, I would proceed as described in the prior post, but would still use the CPS to bound the failed area. I highly recommend you call Steve Smith. Make sure you ask for him directly, he is a no-bs guy and very knowledgeable about what does and does not work, and he is not shy about telling you. 1-510-237-6842 or 1-800-234-0330. Smith & Co., 5100 Channel Ave. Richmond, CA 94804-4646.