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I am doing interior for my house. I get different opinions about how best we can cover the thickness ( edge ) of the plywood. Anyone has experience here. The options I heard are below.

1. Leave it open. Chisel it and apply paint / OR something like a putty here.
2. Cover it with Teak Reaper.
3. Cover it same color (as laminate/veneer) tapes with a strong adhesive. This is what my architect recommended but somebody tells me that it will come out after some years. Is that true ?

Which one is better ?

Option 3 is cheaper and better looking (if you like contemporary looks)
Option 2 is expensive and probably more durable. (better looking if you prefer traditional looks)

With option 3, you can extend the laminate you have used to cover the other areas to include the edge of the plywood as well. This way, you will avoid using a small strip of laminate to cover the edges.