ID, and a little advice please

[gregzz4]

Looks to me to be a Viral or Fungal infection.
I'd go with Maracyn 2 if you're going to remove and treat in a QT.

Using Maracyn 2, put the wrasse in a QT with lots of aeration, filtration and low light.
Aeration should not be stressful for the fish Gary, but needs to be strong enough to add more than average aeration because of meds. Lots of surface agitation is a good thing and a powerhead breaking the surface is good too.

If you're using Maracyn 2 follow the instructions well and you'll be fine. Keep lots of spare water on hand for emergency water changes, perform water changes as required and away you go. I said lots of spare water.
Be prepared to change 25-50% every 3-4 days while using M2.
The instructions will tell you how much.

I usually do water changes 2-3 times per week when I have critters in my QT.
And when I'm using chems I keep enough water on hand to change the whole QT at least once, just in case something goes sideways.