The unfortunate answer is no, the play cannot be adjusted out; it varies a lot from boat to boat. I find mine to be considerably worse when the wheel is tilted, I supposes it introduces more chance of a cumulative play in the system.
Depending on how far out it is, the wheel position relative to the hub can be adjusted, it's just bolted on. Also, the position of the hub on the shaft can be adjusted; after removing the nut, it should pull off ( you may need a puller or a slide hammer though )
Graham
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