Combine the water and yeast in a bowl and let proof for 5 minutes. It should froth a little. If it doesn’t froth, the yeast is not active and you should start again with new yeast.
Combine the flour, salt, 2 tablespoons vegetable oil spread, and Splenda Sweetener in a large bowl (or in the bowl of a stand mixer). Add the egg, evaporated milk, and yeast mixture and mix with a wooden spoon (or the paddle attachment of the stand mixer) until the dough comes together in a sticky ball. Add a little more flour if necessary to get the dough to form. Transfer the dough to a greased bowl, cover with plastic wrap or a clean kitchen towel, and let it rise in a warm place for at least 2 hours or until it has doubled in bulk.
Roll the dough out to ½-inch thickness. Cut the dough into 24 (2 x 3-inch) rectangular pieces.
Pre-heat the air fryer to 350°F
Brush the beignets on both sides with the melted vegetable oil spread and air-fry in batches for 5 minutes, turning them over halfway through if desired to let them brown more evenly.