You can change it with a long needle nose pliers and some patience without pulling anything else cept maybe the little flat steel bracket.

If you want to put a screw type hose clamp on pull the alt out of the way.

I have worked on hundreds of the magnum motors and never seen a bypass hose leaking timing covers, yes, t-stat housing yes, intake yes, bypass hose never. Seems they used a lot better rubber than the 92 back 360 91 back 318