Winston writes:

What if I put a coiled copper cooling loop and coalescing filter
between the pump and the tank to reduce the water collected in the
tank?

Not effective. The basic problem is heat removal, and for that to be
efficient, you need a reservoir of phase change (melting ice, boiling
liquid refrigerant, etc). Transfer to ambient air via a tubing coil has
only a tiny, low-quality capacity.

Drying compressed air is like running the latter half of a still, except
you don't get any moonshine out.