I'd try sanding off as much of the rust as I can then apply some Rustoleum paint.
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2021 Transcend Xplor 247BH
Husky WDH with Sway Control
2021 Chevy Silverado 2500HD LT 6.6L V8 Duramax
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Laurie J. Wood 3/22/67 - 8/23/19
just wipe off any loose rust and soil and then rustoleum makes a spray on paint that turns rust black like a primer . works like navel jelly then just get some good spray on rubberized undercoating and go crazy.
x2 Por 15. Used it to coat the Dynamax hitch after I cut it and raised it. It will not rust and covers much nicer than Rust Oleum. This would be more of a permanent fix than spray paint.