If the motor overheated due to an impeller issue, it's not that devastating as overheating due to poor oiling or lack of lubrication. The latter will screw any motor much worse. Remove the cylinder head and check if the cylinder walls are not scored and the head is not already warped ?
If both are OK install new cylinder head, thermo, exhaust cover and base/pan gaskets, torque to specs and have fun. Check compression before and after.
My previous 2 stroke Evi 15 HP was severely overheated running wot 3 times in a row due to kelp blocking both lower water intakes and motor stopping sudenly while smoking heavily much worse than a gang of chinese poker players smoking in a close room. New gaskets brought it back to life...
Happy Boating