Oh dear! Where do I start?
Let's start with gun pressure. Firstly, I really don't understand why so many people persevere with HVLP unless it's mandated. Obviously not in this case since spraying outside. 12psi might be the recommended pressure, but that's at the aircap, not at the inlet. RP guns are much more efficient, transferring more product to the surface with less going to atmosphere. They also generally use much less air and are capable of much better finishes. Out of the 20 or so guns that I own there is only one that is HVLP and that's a mini gun with 1.00mm setup that I use mainly for blending clear.
See the charts on
this page. Although the FLG4 isn't actually listed (not classed by Devilbiss as a professional gun?) there are inlet pressures for various others, including HVLP and you will note that they range, typically, around 24-26psi.
So, at 12psi you're waaay too low. That's going to be a major contributor to that finish because you're simply not atomising the paint.
It also looks like you're holding the gun too far out, making the problem even worse. At the right pressures the air cap needs to be in around 150mm from the surface. This will slam the paint on and help it to stick and flow out, giving a wetter, flatter finish.
Sanding. Hard to see from the pictures, but if there are sanding marks under the clear then they'll be poor preparation on primer or substrate. I really don't like to go coarser then P800 wet. Although some say P600 is ok, and you may get away with it on solid colours, the risks, IMHO, are too high. The primer or substrate that you're painting base over needs to be flat, no peel. If you don't go far enough then any imperfections will amplify with subsequent coats.
When sanding there are a couple of golden rules. Firstly, unless absolutely impossible, alwats use a block. Looking at the sanding scratches in the pictures I can see finger marks. Using a block will avoid these. Secondly, if you absolutely cannot use a block the sand side to side, not in line with your fingers. Again this will even the sanding action. Never sand in circles. Also make sure that your paper is clean and you have enough water to flush away any grit which will contribute to the bigger scratches than can be seen in the pictures.
So, what to do? First option is to continue blocking the surface out with P1200 wet until it's level, then P1500/P2000 and maybe P3000. Then buff. There is a risk of cutting through but you may have enough clear on there.
Alternately, cut the worst of the orange peel out and reclear. If there are sanding scratches under the existing clear you can dust some more colour over those areas first.
Buffing. A DA will not cut it when buffing. Literally. Some electric random orbital machines have the power, with the right pads, to work, but I prefer a rotary for this stage. You can go to random orbital later to address swirl.
Toyota (even Lexus) paint isn't so good out of the factory that you need to get a perfectly flat finish which will look different to the factory peel. Some peel is going to actually be better. Accept that and follow what I've said above on pressure and technique and "off the gun" may well be good enough.