To make a matte, export a still frame containing the problem area.
Open this in PhotoShop.
Create a new layer and give it a memorable name (eg Mask).
Fill the new layer with white.
Reduce the opacity of this layer to, say, 50%.
Paint in black with a soft-edged brush to cover the area of interest.
When done, restore the mask layer to 100% opacity.
Save in PSD format.
Import the PSD into Premiere and choose only the Mask layer.
Base video on V1.
Copy of base video on V2 with Track Matte transparency applied.
Mask clip on V3 stretched to match length of affected video clip.
Apply Motion to the clip on V2 to move an adjacent area into the space previously occupied by the gray blemish.
Test by ALT-Scrubbing and adjust as required.
When (if?) it looks OK, render and check on a TV.