If your replacement cover is empty, and you plan on swapping the insides over, take both covers off. You’ll also find the wires to the neutral switch and low oil pressure switch in there too. You will need a hand held impact driver, for sure. Before you remove the covers, knock the three centre screws (around the HONDA badge) loose. They hold the central, fixed spool in place and are easier to loosen on the bike.
If you are in no rush, watch my 1976 Honda cb750 Project posts. I have to pull both those covers and strip them down, before getting them polished by a local guy. I’ll take a few extra photos and show the step by step, if you want? Let me know.
P.S. I usually replace the section of wire harness that attaches these components to the main harness. You’ll find the original very brittle and stiff. The insulation and outer cover often falls apart when you disturb it. These are cheap at $15-20.