A pressure gauge will only tell you if a tank has propane or not.... The science is...
If there is liquid propane in tank it boils off into a vapor, the amount of vapor in tank relates to temperature and temperature is what causes the vapor and the PRESSURE.... So if there is any liquid in tank, (full or almost empty) the pressure registered on gauge will be in relationship to temperature not volume of liquid... Its a sliding scale as temperature goes down pressure goes down, and as temperature goes up pressure goes up.... So unless tank is empty the gauge will always so pressure in relation ship to temperature NOT what actual amount of propane (liquid) in tank.. Note at approximately 70° f. tank pressure is approximately 120psi...

OR another way...

Two ways to see how much propane (liquid) is in tank...
One is to boil a pan of water and then drizzle it down side of tank, water will warm shell of tank, down to lever of propane (liquid), you run your hand down side of tank and feel for temperature change, where temperature changes from warm to cool the is line where liquid is in tank..
Second method requires a scales, propane weighs 4.25 pounds per gallon, tanks usually have TARE weight of tank in safety collar, usually newer tanks weigh about 20 pounds (TARE) , so if you weigh tank with propane, and it weighs like 33 pounds you subtract tare weight of tank (33-20=13) so if you have 13 pounds of propane in tank you divide 13 by 4.25 (13 / 4.25 = 3.05) so you have pretty close to 3 gallons of propane in tank....
A gauge can fool you by showing good pressure till tank no longer has enough liquid propane in it to create vapor/pressure then you are suddenly empty (no pressure reading) ... Gauges are sort of a joke on the public that needs something visual to give them indications that all is well or not well....
Another solution may be one of the new semitransparent tanks where you can actually see the level of fuel (liquid) in tank...

Be aware the when looking for a transparent type tank there was a factory recall on SOME that were not safety tested correctly... Not all transparent tanks are in this recall, you need to do research and have tank serial number to see if tank is good or not...
To answer your question, if plugged port on regulator is for gauge, by adding gauge it will indicate there is pressure in tank and but necessarily how much propane is in tank......
Dale