'For the confusion about the abilities 'Precision Hookset' and 'Powerful Hookset', let me clarify this for you. I was wondering what the differences between these 2 abilities as their tooltips reads the same thing, but one cost a bit more than the other.
This may have been a little more obvious for Playstation users as fishing vibrates your controller. Once for a weaker fish and twice for a stronger fish. When you have patience active, you want to use precision when there is 1 vibration and powerful when there is 2.
However, on the PC, you must use the visual and audio cues to know which one to use. It is recommended to turn the volume of your "Sound Effects" as high as you can. Weak fish will make a brief stretch noise to your rod, but big fish will have a stretch noise that is prolonged. Test it out a few times and you will notice the difference. The visual cues are similar in subtlety and will be noticeable after you focus on the difference.
TLDR: Use precise hookset for 1 vibration (PS controller), short squeaking noise, light tugging.
Use powerful hookset for 2 vibrations (PS controller), 2-part stretched squeaking noise, vigorous tugs.