[Kube]

My advice at this point is to remove the board(s) and see if that fender goes back to where it should be. A running board that was 'forced" in to position will most certainly cause the issue you have. If removal of the board solves the problem, you know what needs to be done next - that is, figure out why the board is "tight".
I tend to install the entire front clip and align it perfectly prior to installing the boards and rear fenders. The rear fenders, if installed too far forward will cause a fitment issue with the boards that will subsequently cause an issue with the front clip.
If by removing the board(s) the front fender remains "popped out" then yes, the fender(s) need to be addressed.
My gut? Running board (improper) fitment.
So, that's your task for today... remove the board(s)...this will be he quickest and most effective way to figure out what's the cause of the issues you are seeing.

Now, as an "option" you could simply push the fender in and attach the gravel shield. If it is only an inch that the fender(s) stick out, you'll probably be fine doing it that way. the risk is cracked paint and / or underlying putty. Me? I don't care to have any stress on any sheet metal but if you don't want to contend with removing the boards and the possibility of moving the rear fenders back a bit, well, this may be the way to go for you.
Keep in mind, if the board(s) were "forced" in to position with as little as 1/8" too little space at the front fender, that bow will certainly occur.
Hope this helps,

Mike "Kube" Kubarth