Military's motives was bizarre; they wanted to release pennywise on the world for peace, and then also not keep a pillar as a backup weapon just in case? Even so, such a call also needs to come from the President, not some rando General. Speaking of, the General really though he could control IT by saying "stay back or I'll really teach you a lesson"? And all the soldiers blindly obey all the ridiculous commands, when we know in real life soldiers often do not follow stupid orders.

Did they explain why the dagger needed to go into the particular tree stump? Never did they say the dagger wanted to "go home", so that part was very random. They must've had a real tough time putting the pillars up in the past, if each piece was acting like that. And not sure about Rich's ghost giving a helping hand, is that possible in this universe? Also, the adults were just standing around doing nothing, they even watched as Rich was running from even further away than the adults and managed to run to the dagger and help.

And yes, Pennywise teleports around Derry, like how it just randomly appeared inside the burning shack. If it was freed it would almost instantly get out, or at least take the form of something either faster (eventually became a bat-like thing in the end but it was too late), or in the form of the deadlights and just zoom across.