Henry is forgotten by people before long (2,1,3)

I believe the answer is:
in a bit
'long' is the definition.
I know nothing about this answer so I cannot judge whether it can be defined by this definition.
'henry is forgotten by people' is the wordplay.
'henry' becomes 'H' (symbol for the unit of electrical inductance).
'is forgotten by' is a deletion indicator.
'people' becomes 'inhabit' (people can mean to populate or inhabit).
'inhabit' with 'h' taken out is 'IN A BIT'.
'before' acts as a link.
Can you help me to learn more?
(Other definitions for in a bit that I've seen before include "later" , "shortly" .)
