Yep, that's a throttle guardian. They cause more issues than they solve. Ok... this one is hard to bypass... but if you do it carefully... it will be fine.
Step one: cut the black/yellow wire, and tape up the lose ends.
DONE !! LOL
Seriously thought... it watches the RPM's, and looks at the neutral switch, and then grounds the ignition via the black/yellow wire. Now... disconnecting that wire is all that needs done... personally, I would just remove it. (less crap to look at while working on the boat)
As far as a Universal Solenoid... an old style "Ford" solenoid will work.. But the issues are....
1) Not waterproof.
2) Not spark proof.
3) Normally grounds to the mount.
OK... #3 isn't really a big deal... but #2 is a no-no. You want to avoid sparks in the bilge area, since igniting fumes is a real issue. #1 is just a short life. Because of this... I would just wait to get a proper part. (but that's up to you)