This is a simple problem, one of the seals has failed and water has entered the watch.The watch has a two seals on the stem/crown which should be screwed down, the back cover has an "O" ring and of course the crystal has a seal. The watch has been wet and this displaces the oil, only way to get it clean is to completlt disassemble, put in an ultrasonic cleaner, oil, set beat and rate install new seals and water resistance test and probably replace crystal. The sooner you do this the better, there are very delicate parts in this type of watch, I usually reconnend getting it to a watchmaker within 1 day to limit damage. On my customers I will do an emergency dry out for free up to two years after overhaul unless the crystal is cracked.

You definetely have to ask for watchmakers help to dry out your watch properly. Moisture may not be visible to your eye, but it's still in the watch case and ruins your watch movement permanently and quite quick.
Sooner or later your watch will stop or show some other faults, but by that time the price for repair can be sky-high.
I've been replacing whole movements, just because the owners thought it's not a big deal or didn't want to pay for such a job. It just sounds 'drying out', but actually it's not, as watch must be disassembled completely (incl. movement), cleaned, oiled and properly re-adjusted.
Rolex repairs has never been cheap, but better do it as soon as possible.
Do not forget to rate, please.