Understand now.
Checking paint is usually due to poor adhesion (poor primer or poor preparation, etc.) and for a 'decent' job should be entirely removed and the whole job 'redone' from scratch. But, you imply that you dont want to do this 'drudgery' at this time.
You might even find such a 'wax remedy' already made in an 'artist supply' - (real) artists crayons made with Titanium Dioxide (TiO2) white pigment, etc. Such may also have a bit of WHITE LEAD in the content.
If you cant find real 'artist' (with TiO2 + LEAD) crayons, suggest you find an 'old time' paint store, one who can MAKE custom paint. Start with paraffin wax softened with mineral oil, and add titanium dioxide (white) pigment, etc. until the colour approximates the current colour. You can also find titanium dioxide + LEAD pigment from entities that cater to the model/hobby industry ... or even 'artist suppliers'.
'Work' the mixture until it becomes like a 'soft crayon'. PUSH/RUB the mix into the checking to partly hide the 'cracks'. Clean the surface with a solvent such as NapthaBenzene (purified gasoline or just plain gasoline). Then buff-out the whole area.
An alternative would be to seek out some leaded enamel 'sign painters paint' - product called "ONE SHOT" (wont find such in eco-crazy areas). Tint the paint to match the colour that is there - dont 'tint' or color match yourself if you are over 35 years old ... as oldsters dont perceive 'red' very well. Tint and color match with primary colors of ONE SHOT (black, blue, yellow, green, red) into the white. Dip the paint with a soft rag and WIPE the paint into the crazing immediately followed by a thinner wipe of the surrounding surface. Let cure/dry for at least 30 days, then power buff the surface to remove any residual 'haze'. You can also use 'hobby shop' aniline dyes for the 'tinting'.
You will need to do the application often as the wax/paint will ultimately oxidize and may change color. You will obviously have to do a 'serious extraction' of the wax before restoration or repainting and especially *BEFORE any sanding* for the 'prep' of any 'new' paint job.
Is this the kind of advice youre seeking?