In all my years of dealing with GM 350's and 5.7L engines, the two piece rear main seal on the crankshaft (and one piece rear main seal) have had no interaction with the Cam shaft. GM transitioned from the two piece rear main seal to the one piece in 1986. Not sure when Mercruiser made the change. All that said, I am making the assumption you have a Mercruiser based upon GM, however, as Bondo points out more information is needed. For example, engine serial number?
Edit: I should point out that the block for two piece and for one piece are different engine castings so that could have impact on the camshaft. That is another reason that the specific engine year, make, model and serial number are important. Same as it would be for any car or truck engine.