I've seen this in some Tannoy tweeters (there is another thread here at AK about them). What I did was to remove with some small tweezers as much as I could of the old material, and paint the exposed cloth with this vinyl product.
You could try some PVA glue, diluted, and do some tests on some fabric to check the thickness, flexibility, and so, and choose the material and dilutioon that gives the best result.
here are picts of those tannoy tweeters, with before-after measurements: One of the tweeters was more damaged, but both showing this problem.
worst tweeter
View attachment 2337062
better dome:
View attachment 2337066
measurement of both tweeters before the fix, you can see a huge difference
View attachment 2337044
Response of both repaired tweeters compared to the best tweeter before the fix:
View attachment 2337048
"repaired" Tannoy domes:
View attachment 2337072
View attachment 2337073