Artesian Spa Grand Bahama Control Panel Overlay

I recently purchased a used 2010 Artesian Spa Grand Bahama. Everything is in good working order, but I've been ordering some replacement parts to spruce it up. The control panel overlay has water infiltration and the decal/adhesive is gumming up and peeling. I have the replacement decal and wanted to make sure I apply it correctly.

Underneath the peeling decal is another clear protective layer that is still mostly adhered to the the control panel itself. However, there is some water infiltration underneath this layer as well, which I'm afraid will get worse and cause problems with the new decal (or even the control panel itself). Should I try to peel this up and reapply it with silicone or something or should I leave it alone?