Spray cutting board or work surface with spray oil. Open and unroll can of crescent roll dough. Dough should be perforated into 8 triangles; separate dough on center lines, forming 4 rectangles made of 2 triangles. Transfer 3 dough rectangles to plate, alternating dough and wax paper, and refrigerate until ready to use.
Place remaining dough rectangle on oiled surface. Quickly but carefully pinch dough together at perforation to seal, and gently pull and press dough into square shape. Be careful not to overwork dough and make it too thin. Carefully flip dough square over and pinch together perforation on other side.
Place ¾ to 1 tablespoon pizza sauce in horizontal line across center of dough, being careful not to get too close to edges. Top sauce with approximately ¼ cup shredded mozzarella and 1 to 1 ½ tablespoons chopped pepperoni, depending on size of dough square. Be careful not to overfill.
Gently peel each edge of crescent roll dough up from work surface. Once all edges have been loosened, pick up dough by corners, bringing top corners to meet opposite bottom corners. Gently lift dough so that filling hangs like someone laying in a hammock. While keeping dough suspended, press top edge of dough together.
Lay dough pocket down on work surface. Gently press tines of fork around edges of dough pocket to seal seams, then lightly press top of dough pocket to spread filling out. Be careful not to use too much pressure or perforation can split open.
Transfer sealed hot pocket to plate and set aside. Repeat process with remaining 3 dough rectangles until all have been formed into filled hot pockets.
Preheat air fryer to 350° Fahrenheit. When preheated, lightly spray air fryer basket with spray oil. Place 1 to 2 hot pockets in basket depending on size and lightly spray tops of hot pockets with spray oil. Return basket to air fryer and cook 4 minutes.
After 4 minutes, remove basket and use spatula to carefully flip hot pockets over. Return to air fryer and cook 1 to 2 minutes more, until desired doneness is reached.
Carefully remove hot pockets from air fryer and set aside. Repeat with any remaining hot pockets, then serve immediately with dipping sauces if desired.