All outboards have a pin that the prop sit on to transfer the spin of the prop shaft to the propeller. You can shear the pin, which is a drive pin, and still have a pressed in hub. Here is some info I found on another site...hope it helps.
https://www.duckworksmagazine.com/05/columns/max/12/index.htm
The shear pin is located at the aft (prop nut) end of the propeller on some motors and at the forward (lower unit) end of other models. So just what is a “shear pin?” It is a metal pin that locks the prop to the spinning propeller shaft and which is intended to “shear” or break should the prop come into contact with a hard object such as a log or rock, hopefully sparing the prop or other engine components from damage. The shear pin is intended to be a sacrificial “weak link.”
PROP-06 - The function of the rubber shock-absorbing hub on some models can be affected by how tightly the propeller nut is tightened.
In the mid 1950's, however, “cushioned hub” propellers were introduced (Figure prop-03). These props had a rubber-mounted hub which was intended to absorb the impact of a hit. The props continued to be locked to the prop shaft with a pin, but now it was a much stronger pin and the factory referred to it as a “drive pin” and not a “shear pin.” Although with some searching a genuine shear pin or drive pin for a particular model can be found, few people go to the trouble, and often pieces of nails or other material will be found in place of the proper pin. My own habit is to purchase brass rod of the proper diameter at a hardware store or hobby shop and to use a hacksaw to cut pins of the correct length. The brass is somewhat more prone to breakage than a proper shear pin (and definitely weaker than a steel drive pin) I just consider this as extra protection for the prop and engine.
Keep in mind, however, that a broken shear pin in the wrong situation could put your boat and it’s passengers in danger, so the weakness of a substitute brass pin could at times be a safety issue. I always make it a point to carry spare pins and I usually carry a spare prop as well. I have had the rubber hub of a cushioned hub propeller fail, allowing the body of the prop to slide on the hub and reducing the top speed of the boat to about one mile per hour. It would have been a long 6 mile trip back to the launch ramp if I had not had a spare prop in the boat.
PROP-07 - Greasing the propeller shaft before installing the propeller is always a good idea on these old outboards, especially if you intend to run in salt water.
If you are going to carry a spare, consider having one of a different size than your regular propeller; That way you can have a “speed” prop for light loads and a “power” prop for heavy loads.
Improper tightening of the threaded propeller nuts can lead to shear pin/ drive pin breakage and can also cause damage to the propeller or even the propeller shaft. Those models that use the threaded propeller nuts have a slot machined into the forward face of the propeller hub that the shear pin/drive pin engages. If the propeller nut is too loose, there will be excessive slack between the pin and the slot which will cause the slot to wear and enlarge, permanently damaging the hub of the propeller (Figure prop-05). Improper tightening of a threaded propeller nut can also cause damage to the rubber cushioned hub itself (Figure prop-06). When installing a propeller on an outboard, it is usually a good idea to grease the shaft to guard against corrosion and wear (Figure prop-07).