Isocyanates are part of the chemistry in the catalyst.
Waterborne paint Isocyanates are less hazardous than solvent borne, but that being said they are still not good for you. The good news is that to neutralize the Isocyanate you use 50% water by volume. So when using waterborne catalyzed paint that uses water as a reducer at a 1:1 ratio with the catalyst like we do you end up neutralizing and encapsulating the Iso's. So do not get any water near the catalyst or in the bottle because it will ruin it. Once the catalyst and resin are mixed only then can you add water to reduce to a sprayable viscosity.
Isocyanates are attracted to moisture. With solvent based paint systems your body is the source of moisture and Isocyanates are able to soak through your clothes and skin and into your blood stream. If you wear the same shoes painting with solvents every day even the overspray that soaks through your shoes and socks will get into your blood stream and can make you sick.