Thank you! This design does not have a nut under the cap. I reached to 4Plus directly and they had the following to say:
Remove the top cap. There's a set screw on the side. You may have to tap upward on it, walking around the outside. You can use a large screwdriver or dull chisel.
Once the cap is off, wrap the end of a pry bar or crowbar in a rag and slip it between the arm and bumper right up against the hinge. Apply pressure, upward as you swing the arm back and forth
in short strokes. The arm will slowly walk up the hinge. As you get farther up the hinge post it will walk up faster. You'll probably need the block up the pry bar at least once. The hinge post is over 5" long.
Clean up the bushings with WD40 or similar. Relube and reassemble. My favorite lube for this is Fluidfilm. It's lanolin based and won't wash out with water. It is also a rust inhibitor. According to literature it is even used on ship's hulls.