I’ve made wood cases for a couple of Yamahas, though haven’t added any pickups. In both cases, I also made a modification to the condensation outlet. I don’t think any moisture should be released into the inside of a wooden case – it will only do damage in time. Also, it could interfere with the electronics?
It should be easy enough to chop off the whole section consisting of red button and spring etc, and to insert a tube, which will transport any condensation out of the case. I fit one of these to the end of the tube, with the threaded section sticking out of the case:
Then you can add this ‘screw on’ cap: