Remove the problem, don't cover it up. I am taking that and several
other things into consideration.
The problem is a corner fascia that is water rotted, not badly, but
enough to see if you look hard -- not a passing glance -- or are
about two feet away from it.
Most everybody has some rear high corner of the house that is well
shaded and keeps rain wet a long time, and also is the least visible
portion of the whole thing.