How to use gauge to fit different needle and yarn?

I am attempting a baby blanket but the needle and yarn that is used is different from my needle and yarn. This is the gauge given:

14 sts = 4 inches (10 cm). BE SURE TO CHECK YOUR GAUGE. When you match the gauge in a pattern, your project will be the size specified in the pattern and the materials specified in the pattern will be sufficient. If it takes you fewer stitches and rows to make a 4 in. [10 cm] square, try using a smaller size hook or needles; if more stitches and rows, try a larger size hook or needles.

That blanket is made on US 11 needles with a light bulky weight yarn. But I am using US 7 and worsted weight yarn. The pattern says to cast on 123 stiches, so what should be the new amount for me to cast on? Thanks

Take the 123 sts and divide it by the pattern gauge which equals 35" wide for the blanket. Knit a sample with your yarn and needles to see how many sts/inch you get, then multiply that by 35 to see how many sts you need. I will mention that size 7s will probably give you a fairly dense knit unless you’re a loose knitter; you might think about using size 8 or 9 for a softer more open pattern like the original.