Generic character sheaves on parahoric subgroups

Abstract: We prove that on a "generic locus" of the equivariant derived category of constructible sheaves, positive-depth parabolic induction is a $t$-exact equivalence of categories. Iterating this with respect to sequences of generic data allows us to take as input an arbitrary character sheaf on a connected algebraic group and output a family of positive-depth character sheaves on parahoric group schemes. In the simplest interesting setting, our construction produces a simple perverse sheaf associated to a sufficiently nontrivial multiplicative local system on a torus, resolving a conjecture of Lusztig. We prove, under a mild condition on $q$, that this realizes the character of the representation arising from the associated parahoric Deligne--Lusztig induction.