Your enlarged generic schematic below handily illustrates exactly how your engine can be flooded by exhaust water with no 'sucking' at all...by following seas, overloading, overcranking or unrealistic flow characteristic estimates, to name some of the more obvious failure---possibilities...
To form
any opinion about the system we'd need specifics for
your system; exhaust ID, length of exhaust,
lift from lowest point to highest,
raw water flow rate, volume of water
lift muffler, etcetera. And that would only get us into a ballpark design.
While the 'system' in the first schematic will
work, given the correct parameters , it is fairly dangerous and unforgiving.
Another 'solution' is shown in the doctored schematic (and the doctoring is not to scale); while it is 'safer' insofar as engine flooding from exhaust water intrusion, their is a large section of exposed 'hot' exhaust tube that must either be insulated or cooled. Both have their drawbacks;
insulation actually winds up
heating the engine compartment;,cooling is susceptible to clogging or conversely, saltwater
leaks...
From an efficiency standpoint, if you're not familiar with the dynamics involved here, it might be advantageous to cultivate an acquaintance with someone locally who is...