When you key the mic (PTT), you are making a connection to ground via the PTT switch, which tells the radio you want to transmit.
I agree that this is likely an issue with grounding of your MP gauge and/or sensor.
The lights/radio issue is probably not related. You'll want to determine where the nav/strobe light wires are located in relation to your compass. If they are too close and not twisted (power and ground), you'll want to move them as far away as possible and put a twist in the wires (see Steinair videos) to help cancel out the interference/magnetic field being generated.
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Ray
RV-7A - Slider - N495KL - First flt 27 Jan 17
O-360-A4M w/ AFP FM-150 FI, Dual PMags, Vetterman Trombone Exh, SkyTech starter, BandC Alt (PP failed after 226 hrs)
Catto 3 blade NLE, FlightLines Interior, James cowl, plenum & intake, Anti-Splat -14 seat mod and nose gear support
All lines by TSFlightLines (aka Hoser)
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