I have used liquid roof and i have used Henry's
And also one called SupRV-1
Liquid Roof is a (2) part system it has a catalyst you mix in, and a limited refrigerated shelf life after being mixed
SupRv has a long cure time... day's
If it was mine, and if the current roof can be fasten down to not be loose
I might overlap the damage with a new section of the same material ( glued down )
Seal the lapping edges with Eternabond tape, then seal the whole thing with roof sealer of my choice possible Henry's or Hengs white coating
I did a whole new EPDM roof for a friend about 12 years ago, it is a whole lot of work, very labor intensive, that's why it costs so much
A bad tear, or missing material, needs more than just sealer over the plywood or other roofing structure