Just get it tight it will be fine .
Have never worked on one of these, so my comments are based on experiences with similar arrangements. If I am completely missing something, my apologies in advance.
As long as there is no wear on the splines creating movement, then yes I would totally agree. Otherwise simply tightening the nut is not going to make all the problems go away, if the flange is loose on splines, won't be long and things be all floppy and leaking again.
On most driveline setups like this, the flange or yoke is always softer than the shaft and is the one that wears. And while it might be a few hundred bucks to replace, it is often the cheaper alternative then to continuing to operate it with things loose and moving. I recently had a similar issue on the front output flange on my Versy 875. Front flange in question is no longer available. Shaft was perfectly within spec. As there was about 3/16in of splines not being used, we machined off that much off rear of flange to engage the full splines by allowing it to slide on further. There was wear at the rear of the flange which would make it tip, as in it was looser at the rear than the front. Bored out 1/2in of the splines in the flange at rear and pressed in a machined interference fit bushing which now holds the rear of the flange precisely in place. Then torqued down the nut and everything is all good. Had to do some adjusting to the brake caliper to compensate for the repositioning of the brake disc, but otherwise nothing else changed.
Not sure if such a fix would work here, nor availability of parts for Massey. Versatile uses a large coarse spline, not so sure such a fix would work as well if splines are fine
