So the entire question would be:
What is your WOT RPM?
What is your WOT speed according to GPS?
What is the diameter and pitch of that prop?
What is the gear ratio of a rear lower unit?
there are a few more factors, but those are the fundamentals. Knowing that, we can do some calculations and see if maybe you're running to tall of the pitch, or potentially identifying another issue.
From my experience, it sounds like one or two pretty common issues. Either the pitch of the propeller is too tall, or the outboard is sitting too deep in the water.
There could be a number of other factors, but knowing the answers to the above questions would help me to help you identify why you're not achieving the performance you're looking for.