Pictures would definitely help. It could be a problem or it could be nothing. If it slaps in the wind when towing it'll eventually cause it to get bigger and create an even bigger problem. Press on the spot and see if you feel any spongy areas or crackling like the wood has been wet. If you feel ANYHTING odd, I'd definitely repair it.
If it's under warranty let the dealer fix it.
If you do want to repair it yourself, I would cut it on three sides making a flap leaving the front side intact. Peal it back and check the substrate for damage from water. If there is no substrate damage get some rubber adhesive and glue the flap back down and sit something on it to apply good even pressure while it cures. After it cures get some EternaBond tape and tape around the patch and you're good to go.
If you're absolutely sure there's no substrate damage! A less invasive way to repair it is to poke 2 or three small holes around the edge of the bubble and squirt some rubber adhesive under the bubble and take a roller or something similar and evenly distribute the adhesive around, squeezing out the air and any excess adhesive. Then place a weight on the area till it cures then put a dollup of lap sealant on the punctures.
Salem 29RKSS Pushing a 2500 Mega-Cab CTD!
Gotta go campin!