The vacuum operated bypass valve is different than the wastegate actuator. As Mimmi states just do a test with the hose disconnected. The wastegate is opened by the pressure produced by the turbo. The boost pressure control valve bleeds off some of that pressure to get you from base boost (about 6 psi) to full boost (between 9psi and 15psi depending on factory settings). By removing the hose the wastegate will remain closed and boost to unsafe levels. If you would drive this way you will be putting in pistons or valves when they burn.
Remember your boost gauge in the car is not reading the psi of boost. It is based off how much air is going through the MAF. If the MAF is failing it often reads low. So it is not putting in enough fuel. So if you undo the wastegate you can burn up the valves or pistons even quicker if you try to drive it that way.
If you have full boost with the hose disconnected you might need a boost pressure control valve. If you still have low boost you might need a turbo.
Remember your boost gauge in the car is not reading the psi of boost. It is based off how much air is going through the MAF. If the MAF is failing it often reads low. So it is not putting in enough fuel. So if you undo the wastegate you can burn up the valves or pistons even quicker if you try to drive it that way.
If you have full boost with the hose disconnected you might need a boost pressure control valve. If you still have low boost you might need a turbo.