Having lived off-grid for almost 30 years I have lots of experience with a few different generators. The following situation is about too much voltage (200V when it's supposed to be 120) but the actual "repair" might help you.
A Honda that I still have for a backup has a recurring problem after it sits unused. Originally, replacing the voltage regulator fixed the problem. Then, the next time I'd need it, the voltage problem would be back. Changing the voltage regulator would fix the problem.
Actually, just unplugging the voltage regulator and plugging it back in fixed the problem (after $400 on two voltage regulators that weren't actually needed). There are three plugs and now before operation after it's been sitting (usually years, but at least many months) I unplug and reconnect those plugs and it works fine. I can't see any corrosion but there must be some.
Unplugging and reconnecting every connection you see on that generator costs nothing. Probably won't fix the problem either. But what if....?
Phil