Fellow Navy guy here. Your two biggest challenges are going to be your low number of hours and currency. I wouldn't sweat the O-4 board or anything else beyond your control. Any chance you can get back in the cockpit for your last tour, or are you staring down the barrel of another non-flying disassociated tour?

Honestly, the reserves are full of guys with similar backgrounds to you who are flying their butts off, breaking necks, and cashing checks. I would network network network at a flying reserve unit and the airline networking will take care of itself. You may have to work at a regional for a bit while you build currency and experience.

I highly doubt that you will have anything that will raise a red flag in an interview. You aren't being kicked out for misconduct and don't have any FNAEBs on your record. Take whatever course of action works best for you and your family. Nobody, and certainly not the Navy, cares more about you than you.