You still have a cutlass bearing, but a bad one probably wouldn't sound like a chatter. Your rudder might be making the noise, being buffeted by the prop.
Heavy powering in waves would cause the stern to squat, or sink lower than normal. This could change several things, one is the
exhaust. If the
exhaust is now submerged that could cause interesting noises. Does the sound change if you change the engine RPM?
I doubt we can diagnose it for you, I would try to repeat it with someone else driving the boat so I could crawl around below deck and listen. Sound travels so you might need to use a listening stick.