Evinrude overheating, weird issue

[Curapa]

My Evinrude 130 has been overheating once per trip for the past three trips out. Strangely it does it at the exact same time. The buzzer goes off and the engine bogs at the exact same place, about 10 miles away from the dock. Each time I have dumped the fuel water separator (little bit of water in it) and let it sit for a minute. I can then start it right up and continue on my way. I can then travel non stop for 20 miles and back to the dock without issue? I'm confused...