2000 50HP Evinrude EFI Check Engine Light 4 stroke

My check engine lights activates after running the motor about 10-15mins. New water pump installed and the thermostat is operating when tested. If I take the T-stat out the check engine light comes on in about 3mins. When its in 10-15mins running about 6,000 rpm. The head of the motor where the T-stat is located got hot to where I could only hold my finger there for about 2 secs w/o getting burned. However it never cut my power at all. I let it cool off a little and started it back up ran it back to dock at about 4,000 rpm no light activated. I took T-stat out and it stayed cool however the light still activated. I put the T-stat back in and the light activated again after about 10-15mins HUGH. The T-stat when tested was starting to open at about 130-140 degrees. What should I do next. It is a 4 stroke and the model # is E50PL4EE

Re: 2000 50HP Evinrude EFI Check Engine Light 4 stroke

Is there a water /fuel seperator on the engine? If there is water in it ,it will turn on the check eng.light.