You are better off just converting to a manual choke by removing the solenoid, choke link, choke lever, and thermal snap switch of the ready start system ( items 422, 493, 951, 216A, and 1478)and adding a 691840 (item 216) choke link. And your wallet will thank you. Beside depending your engine's datecode you may even change the engine's wiring harness.
Once converted you just move the throttle lever to choke position to start the engine and move to run position once started.
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If that item you are referring to is on the solenoid most likely is a common signal diode.