
We had almost the opposite experience - though he didn't often come around our house when he did my sisters neutered male cocker-spaniel used to target and hump my mum's entire Bernese Mountain Dog when he was young (or sitting down!) - in that circumstance we are pretty sure it was an issue of domination - it resolved itself when our Bernese decided enough was enough one day - stood up and gave a stern sounding growl (the only time I ever remember our Bernese actually growling) and it never happened again. (my sisters cocker although neutered was the older of the two dogs and likely the cause of the wish to remain the dominant dog - and our bernese put up with it when he was young but took his stand as he hit 18 months).
It may be that your entire dog being so young is meeting other dogs, noticing that they aren't entire and is expressing dominance over them by humping too maybe? If so you must be careful since this can be an easy catalyst for a fight especially with two dogs in a park that don't know each other. Like Hethspaw said - the humping
is natural behaviour for him and for many dogs. Often it is directed at owners that the dog wishes to dominate - so likely to also happen when an entire dog feels he should dominate a neutered dog too.
I think neutering of the young males definitely interferes with the normal smell of the dog and can possibly creates confusion in the dynamics and behaviour between dogs especially if one is young and hasn't figured out the smells of other dogs both entire and neutered or had little socialisation with other dogs.
I think you should stop the off lead walks - return your dog to the lead and not let him off until you are absolutely certain he will recall to you immediately despite any other dogs or distractions around - and later on when you feel you have that mastered, never let him off the lead if he strays so far away that he is out of your line of sight and therefore your control.
He may well just adjust, outgrow or understand the smells of neutered dogs better with time as he himself matures.
(I'm not a trainer or anything so this is just my advice/opinion others will help more)