We study the nonreciprocal Cahn-Hilliard model with thermal noise as a prototypical example of a generic class of non-Hermitian stochastic field theories, analyzed in two companion papers [Suchanek, Kroy, and Loos, Phys. Rev. Lett. 131, 258302 (2023)10.1103/PhysRevLett.131.258302; Phys. Rev. E 108, 064123 (2023)10.1103/PhysRevE.108.064123]. Due to the nonreciprocal coupling between two field components, the model is inherently out of equilibrium and can be regarded as an active field theory. Beyond the conventional homogeneous and static-demixed phases, it exhibits a traveling-wave phase, which can be entered via either an oscillatory instability or a critical exceptional point. By means of a Fourier decomposition of the entropy production rate, we quantify the associated scale-resolved time-reversal symmetry breaking, in all phases and across the transitions, in the low-noise regime. Our perturbative calculation reveals its dependence on the strength of the nonreciprocal coupling. Surging entropy production near the static-dynamic transitions can be attributed to entropy-generating fluctuations in the longest wavelength Fourier mode and heralds the emerging traveling wave. Its translational dynamics can be mapped on the dissipative ballistic motion of an active (quasi)particle.