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Its probably too late now as corrosion has set in, but I have previously removed the cable, worked a bunch of oil down there and broke/ flushed the rust free.
If this isn't possible a new cable would be needed.
I would STRONGLY suggest installing this type of nut which seals out water and you grease it like the rest of your fittings:
Decades ago (literally) when I had to fix the steering, I put one similar to this on. Whenever I got another boat, it came off and went on the new boat. NEVER replaced another cable since....
Scott
1997 Angler 204, Center Console powered by a 2006 Yamaha F150TXR
I tried to use the Steersman and found the motor had to be pulled to get it installed. That's not always the case, but it was for me. I had my manual steering repaired/greased twice in three months and finally gave up and had it replaced with Hydraulic. No more problems, cost around $1200 dealer installed. about $500 if you can do it yourself.
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