Will this fit around my fog light cutouts?

This lip mounts below the fog lights and does not interfere with existing cutouts or light operation. You won't need to modify or trim around them.

Can I paint this to match my bumper?

Yes. The gloss black finish is paintable. Clean and sand lightly before priming and painting if you want a color match. Refer to your paint supplier for prep steps.

Does this work with the factory lower valance?

This lip mounts at existing factory points and does not conflict with or replace the lower valance. Both can coexist.