Checked both not the problem.Since OHV probably not a bad idea to check valve clearances. Also if the flywheel key is partially sheared and firing at the wrong time could be popping back out the intake into the carb.
Would not go that far but some detritus in the cylinder can do that like one of the screws from the choke / throttle butterflyIf it were me, I would take everything apart down to the piston head to see if somethings got in there, and the piston is crushing it. If not, it could be something loose like the carb I would guess since it's low on power.