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What is this on my 5.7’s

Noticed this today while winterizing, what is it? It has a cap on it and a drain??

2008 330EC
Comments
PC BYC, Holland, MI
I suggest loosening to allow pink to come out then put back - drive out water. Leave them in or the engine will drain.
Regards,
Ian
The Third “B”
Secretary, Ravena Coeymans Yacht Club
https://www.rcyachtclub.com/