Ok, after some thinking about this and a lot of procrastination, I finally decided to just delete the cord reel entirely and replace it with a 50amp twist lock connection. This essentially makes the power cord into a manual extension cord. Maybe not the most desirable fix but probably the most reliable fix. I personally refuse to replace the cord reel with another of the same because I feel the design is bad and the component parts are not strong enough to withstand normal expected use. That's my two cents whether others agree or not.
Here is the temporary 6/3 cord I wired in directly to the RV load side with wing nuts (in the old burned out ATS case):
Here is the new Progressive HW50C EMS I wired in (hadn't screwed it down yet) before the ATS to help prevent a recurrence of the initial problem:
Here is what I replaced the cord reel with (50 AMP RV Trailer Marine Power Cord Power Inlet - Female Twist locking Connector - Weatherproof Boot Kit [Item B077YVWCRB]):
I'll probably either make some type of hanger or pedestal to elevate the connection from the potential of it sitting in rain water as the cord reel had been.
That's it, nothing fancy or difficult. I'll miss the motorized reel function but for all the hassle and expense it has caused me, good riddance.