Does this cover have fog light cutouts pre-drilled?

No. The bumper ships solid. If your build includes fog lights, measure the OEM fog hole locations on your vehicle's mounting surface and mark them on the cover before drilling. This ensures alignment with your specific setup.

Will this cover the factory bumper sensor holes in the lower valance?

Yes, it covers the OEM sensor locations. If you're keeping factory sensors or adding aftermarket parking aids, you'll need to drill matching holes in the lower valance section. Reference your vehicle's sensor placement and the original bumper as a template.

Can I paint this before bolting it on, or should I paint it on the car?

Either method works. Many builders sand, prime, and paint off the vehicle for cleaner results, then bolt it on dry. If you paint it installed, mask the mounting areas first to avoid overspray on the fenders. Let any primer cure fully before handling to avoid fingerprints.