Hi Scott,
All in all it looks like you have a good looking Paw Paw tree! My initial thoughts are similar to what others mentioned with a few pointers to help going forward.
Water
Like Daniel said the yellow leaves could be from too much water from all the rain you said you received (These leaves will end up falling off in most cases)
Try to mix in some sand (or something that drains well) in your planting area next time you plant a tree to help with drainage. It’s hard to do this after the fact but if you are careful of the
root zone it’s possible.
Sun burn
Young Paw paws also are sensitive to full sun during hot summers. Since this tree has only been in this location a couple months you might have those upper leaves being affected by too much sun.
Chances are wherever you got the tree from it had way more shade and the strong summer sun is a bit of a shock. Shade cloth/burlap attached to two
wood posts can provide
enough afternoon shade. It will be hardier next summer so you probably don’t have to shade it this year. Although a little shade for the next month or so won’t hurt.
I also noticed at least one leaf had a hole in it. Check the leaves for pest signs. Check the back side of the leaves from insect pests, eggs, etc. dispose of as necessary.
Overall your tree looks great! Good luck with it and keep us updated!