Squadron's "Tri-grit" sanding sticks work well for this. Try the polishing side first (finest grit), if that doesn't remove it, move to the next coarsest. Apply as little pressure as you can. Of course, make sure that the paint is thoroughly dried & cured before attempting this. Sometimes a coffee filter is enough to smooth it out, depending on the "height" of the raised edge.
Spraying many thin, light coats, and removing the mask as soon as the paint is dry to the touch reduces the possibility of a ridge forming.
Hope this helps, and good luck.