Welcome to the forum.
Step 1: Go to the home page of this forum, and in the Manuals area, download the Factory Service Manual for your bike.
Step 2: Go to the Maintenance section of the manual, and check all the systems.
Step 3: Once you've gone over them, then we can dive into the issue you're reporting with cylinder #3.
Step 4: Remember that there's nothing better than a good visual inspection.
I'm a big fan of the OSI model in my work (network engineering). If the lower layers aren't working, nothing in a layer above that will work. The same can be applied to MC repair: It makes sense to get the fundamental stuff checked and working first (compression, timing, etc) before diving into the stuff that relies on the fundamentals (fuel delivery, mixture, modifications, etc).
Your bike is running on 3 out of 4. This is a good thing. Just need to get the basics checked first, then we can dig into this some more.
Nice looking bike: reminds me of my own 750L (may it rest in pieces/peace).
Luke M
Used to have a 1979 CB750L, sold it as a parts bike, now riding a slightly modified 1984 VT700C. Network/Field Engineer. Central OH, USA, Earth, Sol System, Milky Way Galaxy, Universe.