This paper proposes a new isotropic bidirectional model for weakly nonlinear gravity–capillary waves propagating between two incompressible, inviscid, and immiscible fluids of different densities. The newly developed equation is a generalization of the celebrated two-dimensional Benjamin equation. It is derived based on the nonlocal formulation of water wave (i.e., the Ablowitz–Fokas–Musslimani formulation) and computed with the modified exponential time-differencing method. It is found that horizontally two-dimensional, fully localized traveling waves (known as lumps) exist in the model equation, and plane solitary waves are unstable subject to long transverse perturbations, which evolve into groups of lumps in the long-term dynamics. When considering topographical disturbances on the rigid upper boundary, the nonlinear effect becomes important when a uniform flow passes beneath a locally confined topography with a near-critical speed, and the phenomenon of time-periodic shedding of lumps occurs. Unlike the near-critical situation, the subcritical flows usually generate steady elevation waves, while the supercritical ones produce a V-shaped pattern of wake lines. Furthermore, it is shown that a uniformly accelerated motion can also generate lumps provided that the flow stays in the transcritical regime for a considerably long time.