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Is the circled hole for the clutch stud/z-bar??
The one you are pointing at will work fine. You can get a brass reducer at any auto parts store or decent hardware store. The one you circled in the last post is not an oil galley.
I would recommend against running a hard line to the gauge if that's what you are doing. In a matter of seconds you can ruin your engine should that line leak. (yes I've seen it happen) And they can also leak oil all over your dash (speaking from experience)
gen VI block? do not plug the "bigger" holes next to the oil filter those are cooler lines, if not using a cooler you need to connect the to via hard plumb or your motor will not get oil