Not sure about pulling out the old generator. Carb may need cleaning. Can’t even remember where the on lever position is, probably dusty.
Get it running and get parts for it now.
They do better when they run, just like cars. They don't like to sit and often deteriorate when they do and then need work and replacement parts.
No point in waiting until you need it to fix it.
We've been there too often ourselves and have FINALLY learned that lesson.