Mystery Solved

The purpose of this oil hole and seal really baffled me and was a problem since I needed to know what it really did in order to know if it was needed in my engine too.

Going to the world's largest image library, the internets, I was able to solve the mystery.  There is a nicely documented teardown of an earlier year Panigale engine here.

This image in particular (text/arrows are my addition) was what made everything clear:

Seeing this, I dug into a few different year Panigale microfiches at the AMS Ducati Dallas website.  There was a forced oil feed for the transmission output shaft on all the 1199 models up to the MY2014 but it was eliminated in MY2015 and later when they went to the 1299.  My 2016 1299 crankcases are not tapped for the oil tube mounting holes so I will not worry about trying to get pressurized oil there.