You water parameters are not good, if the numbers are correct. The pH is too low and the nitrite is too high.
This looks like an ulcer forming. That is usually caused by poor water conditions.
Your pH is acidic. It's way too low. The beneficial bacteria that process the ammonia and nitrite in your pond can't survive very well in acidic water. So the pH needs to be raised.
Using baking soda is a good way to do that, but pH should be raised slowly so as not to stress the fish even more. There is lots of information on this site and online about this.
Also your nitrite is high. It should never be above zero. Water changes can help to lower that. It's not at a toxic level right now. When you get your pH up at least over 7, (many of us keep it at 8.3 or so) the bacteria should recover and be able to handle that nitrite. Water changes could also help if you want to do those.
With better water, the fish should be able to heal itself.
If you can catch the fish, you can put some triple antibiotic ointment on the wound, or use iodine. You can also order a powdered form of that ointment that is easier to use on fish. It's called tricide neo.