I have the previous 10 gallon Central Pneumatic compressor similar to yours. After 20 years it started acting wonky. I found all the components to rebuild the controls, on Ebay and Amazon. Everything is universal, generic. The overload/restart button, pressure regulator with gauges, safety relief valve. (watch out, HF used BSP threads for that, not the near identical USP). Now it's good for another 20 years.
However - it makes so much noise I avoided using it until necessary. Recently I got HF's little 2 gallon Fortress 'silent' compressor and now I'm glad I paid a little more for it compared to the simple ones. It just hums, not intrusive. I put it in series ahead of the 10 gallon, and start it first, so I can usually do a session with the impact wrench etc with the big one starting only rarely. Recommended! This is one case where paying more is very much worth it.