Re: 1995,40hp Mercury 4cyl waterpump
No mysteries here, same principle as the bigger motors. The shift shaft is splined, therefore nothing to uncouple.
Just make sure to leave both the remote control box and the shift shaft in whatever gear you had it in when pulling the lower unit off.
Use care not to disturb either while you're working on the lower unit.
I'd expect there may be a hidden bolt under the trim tab, you'll probably want to pull it off just to make sure.
Check at the Merc website for good parts breakdowns/illustrations, just plug in your serial # and away you go:
www.mercurypartsexpress.com
HTH...........ed