The holes may be from cherry shot hole disease: https://extension.umd.edu/hgic/topics/cherry-shot-hole-flowering-cherries
That seems to be primarily cosmetic. The real problem is the sap, because that may indicate peach tree borer. Here is some information: https://extension.umd.edu/hgic/topics/borers-trees
You are welcome to send us photos of the sap on the trunk, close up and full view.
Hi - Thank you for the additional photos. The sap is an indicator of peach tree borer. It looks like you already pruned out the affected branch. The borer's adult phase is a clear-wing moth, but the larval stage of this insect is a borer that will remain in the tree for a year. The boring tunnels cut through the cambium layer beneath the bark where water and nutrients travel up and down the tree--in effect cutting this process off. Once the borers are in the tree, there is nothing you can do to combat them.
Mulch piled on the trunk base encourages this insect. Be sure to keep mulch pulled back a few inches from the trunk of all tree and shrubs. https://extension.umd.edu/hgic/topics/borers-trees