I don't think there is a simple answer. So much depends on how the boat is used and loaded. In addition, the adjustments to height affect some ares of performance more than others.
One thing is sure, at some point performance will suffer as the prop rides higher. For example, if the blades are in air at the top of the rotation, you may cause more cavitation and loose thrust. At the same time, straight line speed can be improved by have the cav plate ride high. With higher mounting and depending on cavitation and other prop induced disturbances, you need to sure that you don't starve the cooling water intakes On motors with temp guages, you will see the temps rise but on motors with alarms only, you won't know until the overheat sensor is triggered.( Assuming that you hear it
So before you try to figure out the optimal setting, you need to identify your goals, Time to plane, top end speed, performance under heavy load, handling in rough seas, etc. The prop selection has a lot to do with the net results also and one height may work better with a different prop than another.
I always recommend that you start with the settings recommended in the Yamaha rigging guide. Since the I4 weighs about the same as the older SX, those settings should be a good starting point