As @Jack says, you need to figure out how deep and how far back the wood rot goes.
You also need to understand how decorative versus functional this part is. (You can edit your question to show broader context.) Obviously, if it’s 2/3 rotten and holding something up, it needs a lot more work than a decorative element.
If you hire this out, be sure your trade gives you proof of insurance and workers comp. (Note that in some jurisdictions, sole proprietors don’t have to have workers comp.) Call the insurance company to make sure they are still current. The last thing you want is somebody falling off a ladder while wielding power tools and having the financial burden fall on you.
Safety matters if you diy this. I’d strongly recommend scaffold, rather than a ladder.
Anyway, to fix it, cut away until you’re mostly in solid wood. If you cut the sides off, get a new hunk of wood to fill in. If the void is deep, cut away a square-ish shape and find a hunk of wood. Before screwing and gluing the new wood on, use a 2 part wood hardener like Abatron or Restore-it (*read the instructions: they’re fussy) to soak the rotten wood that remains. Run a few long screws part-way in, so that part of the head sticks out. Bondo (or any other 2-part wood filler) the void. If you’re adding on a block of wood, attach that before the bondo sets. Bondo the cracks, sand, prime, and paint.
Bonus points if you add a galvanized cap (bonderized if you want to paint it), so that this won’t happen in the future.