It looks like it will fit fine on the 75-76 CB550s.
There is supposed to be a "sock" filter (fine plastic mesh), that goes over the stand pipe and larger diameter plastic tube. (It is easily damaged with "ham hands".)
That "sock" is an "in tank" filter, that is self clearing and needs no maintenance. If you go with inline filters instead, you then have to replace it periodically and add it to a routine maintenance schedule. You also have to figure out how to run the fuel lines to the carbs so the lines will drain with gravity.
Cheers,