The ratchet paw is part of the mechanical brake for your lift system.
This cam engaging the ratchet wheel sprocket is what gives the Colemans the familiar clickty-clickty sound when raising the unit.
Installation tip. The ratchet paw needs to be "rolled back" and resistant set when installing. Almost a full turn is required for the proper tension. Hold the ratchet paw firmly with it rolled back when setting the ratchet paw gear against the housing,
Part number 4716-1221