What do you mean by hold it?
What keeps the shaft from sliding out the
boat while in reverse is the screw in the side of the coupling flange. Since you have the PSS the SS collar gives you a second chance.
If you mean what keeps it aligned. It is the cutless bearing near the prop and the coupling flange.
The PSS is on a flexible bellows big enough around that it doesn't do anything. Regular stuffing boxes are mounted on hoses to self align.
Long shafts will have a pillow block. Some people use flexible couplers to reduce the tolerance of alignment.
John