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From what I see you could raise the motor 1 more hole up, but that would mean you would still have to drill
new lower holes as the "stud" mounts will no longer work. I angled slightly upward [ drilling from outside of stern] for my bottom bolts to enter the splash well high enough to accommodate a nut and washer.

I think Phil is right to drill the green holes. It will allow whatever height or motor you use. I have a 1964 and a 1966 with Yamaha on them. I spent a long time reading about raising the motor and thinking what a lot of trouble it would be. I did it on the 1964 and realized it was a lot easier than I thought. I did the 1966 the following winter. Very happy with the results.

I did both alone, used a Bobcat and rope with the second one. If you have an engine hoist it will be easy.

Just for reference, the 1966 [which I can measure] sits 1 5/8" inch above the transom.