TooMuchEpoxy said..
Id say it really depends where. If it's the mast just replace it those extrusions are cheap. Plate is irrelevant, on the fuse if it's around the stab just let it ride, not a big deal. If it's around the mast there I would just bondo and spray paint.
In my experience this pitting is the result of electrolytic corrosion with the aluminum reacting with the carbon. If it's on the outside of the fuse that's happening in the water and you can mitigate that by increasing the area of exposed aluminum. Because of the exposed carbon a set amount of corrosion is going to occur and if the only area exposed is a scratch or a pinhole it's going to go wild in that small area. If more area is exposed you will have a light dusting of corrosion over the bigger area and it won't create such drastic weak points. Maybe try sanding the back half of the fuse opposite the stab as a sacrificial area. If there's pitting in the mast/fuse connection that's happening because salt and water are retained in that area after riding and the reaction is happening overnight. For that I really like to use some simple silicon sealant in the assembly to displace the water and just leave it assembled all the time. Silicon is so mellow that it won't interfere with future disassembly etc. It does screw up future bonds so if you ever want to repair or paint in the future silicon will be a problem but all foil items are disposable and repairability should be your LAST concern
I moved to carbon set-up with aluminium fuse and disassemble and rinse after each session. First fuse quickly started corroding so added thin layer of grease to contact areas, and on another fuse added grease from new. Seems to help both.