Your bulb has failed or the socket is burned/loose. Replace the bulb and inspect the socket for heat marks or a loose connection.
The flasher works on heat and resistance. When you remove one bulb the resistance of the circuit goes up (parallel circuit). The flasher heats up and cycles faster.
Incandescent bulbs can temporarily weld themselves back together and work for a while. It’s pretty common to be able to smack a burned out headlight and get another day or two out of it.
Sounds like your cat is plugged. Unhook the exhaust in front of the cat and see if it’s gets better.