500 ppfd over 18h is fine for sure.. without hours of operation can't assume the DLI. That's 47.5 DLI over 24 horus and that would be too much. 18 hours is 35.6, which is most likely fine, but some envrionments may even have a problem with that if VPD is too high.
sounds like you have bad watering habits based on your wants rather than the plant's. You wait until it dries back to a consistent point and repeat (this is where your preferences can deviate a bit as long as not too quick to re-irrigate). Don't over-complicated it. If it takes 2-3 days, that's just what it takes. It's not foie gras.
Also, If simply watering causes droop, that's a self-inflicted problem. you need more aeration/drainage amendments in your substrate next time. coco only needs 33% (2:1 ratio) or higher water capacity soils need 50% (1:1 ratio with perlite)... and i'd actually recommend vermiculite #3 over perlite. holds some water and provides available silica. Irrigating properly should never cause droop. that is cuased by something completely avoidable.
those are not Mg symptoms at the top. Damage starting around the tips and margins are most often K-deficiency related. The plant is also fairly dark, so it's probably been overfed a bit. It's possible ther is plenty of K present, but something else is inhibiting its availability.
chlorosis in new growth is related to too much p or k, which makes me think this is more of an issue with ratios of nutes provided over time more so than lack of a physical presence.
interveinal chlorosis on lower leaves may or may not be related. more than one thing can cause that like most other symptoms, so you need more information to confidently diagnose. if it gets some spots along with the interveinal chlorosis, that would be mg-deficiency symptoms, but without spots, it's something else.
Symptoms are indiscrete, if you don't keep track of how you fed and what ratio of nutes over time, you are just stabbing blindly in the dark... or at least blind in 1 eye and an arm tied behind your back.
Whatever you choose to do, try one thing at a time so as not to confuse cause and effect.