A PM suggested I should stop waiting until I feel fully ready and start applying for PM roles now. Did anyone move into product before feeling fully convincing on paper? Whats the most important things to highlight?

likesmart
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You may not be fully ready. Start applying even if you meet just the half of the requirements.
They are not looking for a perfect resource, that is just a wish list.

This market is more about who you know than your resume.

It’s important to be confident during any interviews, but I wouldn’t wait before networking and/or applying, especially in this market

As someone who made that jump and was definitely not ready nor fully convincing, yes you should.

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