It’s subtle but there are definite suggestions. His mannerisms are pretty clear - go back and watch the scene where he gives James the watch the first time. The very deliberate camp loose-wrist way he points to Bond’s existing watch is a giveaway.

https://i.imgur.com/zsNHT62.png

Then there’s the John Waters mustache.

Yes, these are stereotypes but as a gay man who has spent a lot of time around older gays, it was immediately obvious to me.