I have had a bump on the shaft of my penis for a few years now and it has never really bothered me. I get occasional pimples from time to time down there but this bump isn’t a pimple. It has recently gotten bigger and when a squeeze it, pus comes out. It is very sore and warm to the touch.
Looks like a cyst. You should get it checked out seeing that you’ve had it for over a year now.
Agree with Brian get checked by a medical professional …