Arduino, solenoid driver and current limiter

If it was a theoretical ideal circuit with no inductance or capacitance then the PWM would deliver little pulses of exactly 2A to the load.

Your circuit diagram does not show a lot of capacitance so I expect the solenoid inductance will dominate. Analyze it as an RL circuit with your planned PWM pulse duration. When the pulse starts, the full supply voltage will start charging the inductor. Current will rise until it hits the maximum defined by the MAX chip. Look closely at the datasheet to see what it does with a rapid rise.