First off I goofed. I forgot the year model making it a 2+2. Racerone brought that to our attention. Sorry.
Second, 4800 is wayyyyy low for that engine at WOT, and ondarvr caught that one.
Even though you don't run up there, you need to setup your gear train anyway. Your prop is part of your gear train. You are lugging that engine at 4800 WOT setup. You ought to be up around 5200-5500, forget which for the 115.....my 90 triple of that series was 5500 and I think the 4 cyl 125 is also 5500. I think the rating on that engine is 5250 since it is essentially the same as the 125, just dropped 10 ponies and rpms could do that...smaller jets in the carbs or something like that.....service manual lists jets and that would be a quick look up.....I had the service manual for my engine which covered your year model and engine sizes from 75 triples thru 125 2+2s.
No doubt in my mind that your problem is related to the second set of cylinders getting spark and running quantity of fuel to kick in and do their part of sharing the load. I never had one and never worked on one but it seems to me that if you are lugging the engine, especially since you are right in the rpm range in question while in the hole coming onto plane, the hardest load on the engine since you are trying to get the hull out of the water and on top where drag is much much less....lightening the load on the engine. So there could easily be some interaction with the engine responding to the throttle as it was designed to do.
So if everything is in order, aka engine doesn't need any kind of fixing, or servicing, and boat hull is clean and boat is in good order, you know how to and do use your trim system correctly for max speed at WOT (ensuring 4800 is all you can get out of your boat as is) then I'd look at a lower pitched prop for starters. If you are skeptical you can go to the top of this page, get into the propeller section and fill in the blanks to find the right prop for you.
I'd look at 5200-4800 = 400 rpms/200 rpm per inch of pitch change = a 2" reduction minimum in pitch from your prop's pitch preferably from the same mfgr. and type to reduce other variables in the equation. You can get an alum 3 blade for about 90 bucks on here....or could not too long ago.
That's cheaper than any mechanic you'd have to pay to investigate your engine. Besides it would be good for your engine regardless and you could use your current for a spare. Then come back on here and let's talk about where you are and go from there before you spend any repair money on it.