My old plywood decking was concealed with the fake green carpet you can purchase at Lowes/Home Depot. It worked well for a number of years but I'm not sure how well it insulated the plywood. It is still in good shape but the carpet has worn through. I don't want to paint as the deck as it will not conceal the seams between plywood planks and there are some dips in the weathered plywood. I want a textured product to conceal seams, level out dips and hide the wood itself.
I am not aware of a coating that will be effective in leveling out the dips in your plywood deck. Since you are planning on coating the deck, I recommend that you pull up the plywood and repair the foundation of the deck to eliminate the dips and then install new plywood to the deck. You can then choose a number of textured coatings that will waterproof the deck. A urethane based deck coating with a non-skid texture would likely be something that you could apply yourself if that is what you are looking for. You may want to get a contractor to examine the deck and give you an estimate for the work that you want to have done.
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