Most G3500 series gas engines shipped with either VR3 or DVR voltage regulators. A DVR has a small digital display, make sure it is powered up and no fault codes are flashing.
With engine running at rated speed (this engine has both low and high speed ratings, 1200/1000 low speed for 60/50 hertz, and 1800/1500 high speed for 60/50 hertz) first check PM power to voltage regulator, terminals 26, 28, 30 in generator connection box and on voltage regulator (numbering same on both models), should be about 100 VAC at 240 Hertz for 60 hertz rating, can be as low as 80 and as high as 120 VAC. Check sensing on regulator, terminals 20, 22, and 24, standard CAT configuration was 240 VAC sensing, either center tapped or by using 2:1 PT's.
Check field output, nominal CAT exciter field runs about 10-12 VDC at rated speed no load voltage.
>Stop unit, remove F1 and F2, measure resistance, should be about 3.5 to 4 ohms.
If you are flashing the field with 12 VDC and not getting near nominal voltage, likely suspect is rotating recitifer and surge suppressor assembly. CAT had quite a few problems with that assembly, both diodes and surge suppresor, and service replacement is the entire rotating rectifier assembly. You should check with your CAT dealer to get correct replacement part number, as there where several part number changes over the last few years. There have also been a fair number of pilot exciter rotor failures in some of the frame sizes you'll likely see behind that engine.
Hope that helps