01 superjet not running at WOT

I have an 01 superjet that runs fine on land, but when it’s in the water won’t run at WOT. Once you go past 3/4 throttle after a few seconds the ski will stop and when you give throttle it revs up but won’t move. Also sounds like a metal on metal noise when its revving. Usually after keeping it off for a few seconds I can start it back up and it’ll run fine as long as I’m under 3/4 throttle. Not the most knowledgeable on working in these, so any advice would be greatly appreciated. I have replaced the fuel filter and plugs.
 
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