The Octura numbering system goes like this; the first number is the pitch so a 4 is 1.4 times the diameter of the second set of numbers, in this case 40mm. The metric system seems to work well in the world of props. The "X" series is no to low-lift props. We can get into the lifting props later on but this is the essential of what you need to know now for your boat. Octura also makes a X-640 for more pitch at the same diameter. The trick (and the expense) is finding the prop that makes your boat happy.
a 3/16" bored prop can be used on a 4mm propshaft but it will wobble. A small piece of 3/16" I.D. brass tubing between the shaft and prop will close up the gap making the prop fit much better. A Prather 215 has almost the same numbers as an Octura X-440 but it is how those numbers are achieved. Octura props are progressively pitched whereas Prather's have a constant pitch. That little difference can mean a lot. Imagine that as swimming with your hands cupped or with your fingers flat straight out. Heck, just try it stick your hand out the window of your car.
With electric boats it's a balance of motor, battery packs, ESC's and props in trying to get speed, run time and everything else in its happy place for you.
You can test props the cheap way with plastic, carbon fiber or composites but when you've found one that you and your boat like, switch over to Beryllium Copper afterwards for if not at least one thing, safety's sake.