Not sure your exact equity, but what are his flop donking hands here? 67hh, nut flush draw with obviously top pair. 89dd, 45dd, 77. Shouldnt really fold any of them. And maybe you get crying calls from AQ or A7s. But you probaby let V1 away from the hand unless he has AA or one of the hands listed above.
More I think about it, more I like a jam over the small raise. But feels like maybe im missing something in the logic.
Raise. There are at least 15 cards which are very bad for you. Jamming makes things easy for the lower equity draws and the top pair/2pair type hands. Bump it up and jam brick turns. Calling doesn't achieve much, CO isn't going to overcall with anything less than a strong Ace