Help with my 300 series

I just bought an MTD push mower from Home Depot with a 300 series 125cc engine. I set the mower up per the manual, primed it and got it running no problem. However, about halfway through my lawn in a very thick patch, the mower cut out. I went to start it up again and could not get it to turn over. I smelled a faint odor of gasoline, so I figured the engine might be flooded. I let it sit for 20 minutes and tried again to no avail. It has now been several hours and I still can't get the thing started. I took a look at the foam air filter and it appears to be soaked with gasoline around the edges.

Is it just a matter of waiting longer for the gasoline to evaporate or am I looking at a different issue entirely? I have very little experience in lawn mower repair, so I am reaching out to the rest of you to see if you have any tips. Thank you in advance.

Remove spark plug wire. Raise the mower and check for blade movement. It should move fairly easy. Check to see if anything is wrapped around blade or shaft.

I am leaning between possibly picking up some water in the carb, or other carb issues, and the cut out in very thick patch of grass, meaning engine was stalled, with the slight chance that the flywheel key is sheared or offset.