: What I need to know is; Will the wood dry out on its own if I leave it for
: a few days? Should I sand off the raised part and apply a fiberglass
: patch? Just leave the raised part alone? Open for suggestions.

Leave the holes unsealed for a while and the moisture content will slowly drop. If you heat the area significantly the gases (water vapor, steam) that come off will soften the glass cloth and resin above the damp areas.

Eventually this is going to happen anyhow, as the water seems to have soaked in rather deeply. Don't rush to repair this site, though. Wait until the last day of paddling for the year. when you put your boat away for the winter, sand off the glass over this area, inside and out. Let the boat sit with no glass on this area until spring, then sand the (hopefully) drier wood smooth and patch the area. In this way you let the lower humidity of the winter season help the wood give up the captured moisture.

Come Spring the patched area should be so small that you can go paddling the day after you apply it. You can add fill coats and varnish on subsequent days. While you are at it, you can sand out any scratches and patch or varnish as needed. Just do all the repairs at one time so you aren't constantly fiddling with minor cosmetic fixes.

Hope this helps

PGJ