(This was also simultaneously asked on math stack exchange: https://math.stackexchange.com/questions/4857715/vakils-generalization-of-qcqs-lemma)
In the most recent notes of Vakil, this is problem 15.4.Y (which I think is just Hartshorne Lemma 5.14):
Let $X$ be qcqs, $\mathscr{L}$ invertible sheaf on $X$, $s\in \Gamma(X, \mathscr{L})$, and $\mathscr{F}$ quasi coherent on $X$. Viewing $\bigoplus_{n\geq 0} \Gamma(X, \mathscr{L^{\otimes n}})$ as a graded ring with $s$ in degree 1 and $\bigoplus_{n\geq 0} \Gamma(X,\mathscr{F}\otimes_{\mathscr{O}_X} \mathscr{L}^{\otimes n})$ as a graded $\bigoplus_{n\geq 0} \Gamma(X, \mathscr{L^{\otimes n}})$-module, show that there is a natural morphism
$$\left(\left(\bigoplus_{n\geq 0} \Gamma(X,\mathscr{F}\otimes_{\mathscr{O}_X} \mathscr{L}^{\otimes n})\right)_s\right)_0 \to \Gamma(X_s, \mathscr{F})$$
which is an isomorphism under these assumptions.
I am stuck on defining the morphism above. I am guessing this morphism should exist without the assumptions on $X$ and $\mathscr{F}$. My guess is that we take something on the left, say $f/s^d$, where $f\in \Gamma(X,\mathscr{F}\otimes_{\mathscr{O}_X} \mathscr{L}^{\otimes d})$ and appropriately view $1/s^d$ as an element of $\Gamma(X, \mathscr{Hom}_{\mathscr{O}_X}(\mathscr{L}^{\otimes d}, \mathscr{O}_X))=\Gamma(X,(\mathscr{L}^{\otimes d})^{*})$ so that the morphism becomes $f/s^d \mapsto f\otimes 1/s^d$. I am stuck on the step of "appropriately viewing $1/s^d$" (which might not even be possible). Does this approach work, or is it too hopeful to have such a global description of this map?