I have a 2017 Yacht Club tandem axle trailer. I noticed grease slinging on my driver side front tire on the trailer. There's a rubber plug that fits into the hub that is dry rotted and the grease is leaking out of the dry rotted cracks on the plug.
The plug looks like this:

Video of what the setup looks like (this one had grease in it too):
https://www.youtube.com/watch?v=O6ndN_9NQL4Does this mean I have one of those easy-lube trailers where all I have to do is plug a grease gun into the fitting and do a few pumps every year? Is it bad to drive with the dry rotted cap or should I replace it? I took it off and looked behind the plug and there was a bunch of pink looking milkshaky grease in there.
Looks like it's just a dust shield and not really urgent to replace?
Thanks for any help.