Take a glass eyedropper, fill it with 2PAC and start filling all those holes before the clear gets too hard.

Allow to cure for a few days, then sand it back to flat.

Looks like silicone contamination. Could be you've used Dryer Sheets in your dryer before, and now everything you dry will have wax and silicone in it.

Don't use fisheye eliminator:

https://pinside.com/pinball/forum/topic/vids-guide-to-ultimate-playfield-restoration/page/17#post-1699777

It all depends on how long the old coat accepts a new coat w/o sanding. It will say on the can "Can be recoated up to 48 hours without sanding...." .

Usually you have a day or so, but I've only used relatively few of the thousands of 2pac on the market.

Any sealed under silicone is trapped forever once the 2pac is catalyzed, it's not like lacquer where it comes back to bite you a day latter.

I don't think it's water.

A problem with the trap setup would have been evident on the first or second coats.

Yes, it would be better to move the trap further downline, but I admit my trap is right on my 120 gallon compressor and I never have had any water contamination.

Probably wax from the dryer or underarm deodorant contaminated the rags.