I am considering buying coin nitro roll (standard) on my garage floor. There are spots which have disintegrated, pitted and a few patches which are 1/8 - 3/16” deep. Will the flooring cover the imperfections?

As long as the subfloor damage isn't too wide you should be fine. You can loose lay the rolls in your space and you can always fill in larger spots that are damaged if they start to telegraph through your roll.