If your satisfied the paint is a good colour match then remove the masking tape and paper and sand it back to primer , or flat anyway which might reveal some primer .
Put a rag over your wheel maybe but everything else that might catch overspray is the same colour so no need for tape .
First pass with the rattlecan is nothing to do with colour it just puts a sticky layer down so the next pass 10 or 15 minutes later doesn't run .
10 or 15 minutes after that the third pass will colour most of it so after another 10 or 15 minutes the fourth pass is just for luck really .
You might have quality paint in a crap spray can or crap paint in a quality spray can or anything in between , so what happens next is your call .
That its a patch of new paint will be obvious (even a pro can't match old and new paint) but if your otherwise happy with the finish add clearcoat 10 or 15 minutes later over a larger area . Let it dry for a month and when you polish your simply flattening the clearcoat so nobody can tell where the old paint and new meet .
If your not reasonable happy after the fourth pass with paint but its not too bad then wait a couple of days for it to dry before smoothing it with very fine wet and dry and hopefully the paint with be thick enough that you can just clearcoat it without adding more paint .
The harder you try to do it right the more likely it is to go wrong , it might look good after two passes with paint so stop there , if it needs six passes does it matter its only time .