I recently had a tankless water heater installed in my basement. The 4" exhaust vents through the rim joist. I'd like to seal the gap around the PVC, but I'm uncertain what type of putty to use. I'm in climate zone 5b, so I need something that won't crack to about 10 degrees below zero.
What kind of putty should I use to seal this gap?
My original plan was to use the same putty that the electricians used for the weatherproof conduit into my basement, although I'm not certain what type of putty was used, and whether it can be used on wood in addition to concrete block (see image below).


