From what you haave posted it appears that more information about your set-up would help. Option 2 appears to be the only one that offers reverse, but is your set-up in line with the rest of the Option 2 requirements? Are you running Lipo's, how many? ect?.
While the ESC sounds like a racing, or at least a high speed unit, maybe posting in a fast electrics forum with bring you more responses.
Last comment, when an ESC becomes unreliable, it is generally time to fix it, or replace it. Further reliance upon it may well spell trouble.

Thanks for reply Guys, the boat was pre owned and would only go forwards I thought it was a car esc but I did manage to get to reverse, but reverse doesn't work well i.e. its intermittent, although its usually enough to get me out of the weeds 😊. Looking at what I can see online docs it doesnt show a brake function, maybe I just have to live with this ?

I agree. While I am not familiar with that particular unit, any ESC that is programmable should be looked at with an eye towards a programming failure. I note the the programmer for that unit is sold separately so I have to ask if you programmed it when you first received it, or did it come programed. and if so, by whom?

Seeing as it's a seaking boat controller this shouldn't be happening but I would suggest if its doing that it must be programmable to just forward reverse without brake

Hi Thanks for reply, that makes sense. Do you think this is a fixed feature ? Or could I program this out ? I will search for a manual....thanks again for reply ..very kind👍

Is it a car esc some of these have brake functions instead of reverse straight off. If you go from full forward to reverse does it just stop ? Try hitting back let off then hit back again see if it then goes in reverse if that works the esc has a brake function and quite poss if your saying it sometimes is intermittent it may also have abs function