Don't think that is a "hole" ... more like light reflecting off of oil. Even though that pleat is wide, there is zero signs of the pleats bending over.
Looks great, although I assume (could be wrong since I’m not an outboard guy) that boat engines probably don’t generate the flow or differential pressure that car engines do.
Either way, it looks like it’s working very well for you!
I’m guessing 40 hours. Not tons of time. It does lots of trolling or 5000 rpm runs. A bit of everything. I put the shorter version filter on this time. PH6607.
I’ve never had any issues or concerns from Fram filters.