I am detailing parts where all the holes were created as cutouts and am finding this to be impossible to accomplish. I have selected the "cutouts" option in the Hole Table window, but when I'm prompted to select a coordinate system I get the message that the Z direction is incorrect...or something to that effect. I tried to modify the CCYS, or create a new one to no effect. I will also say that the parts I'm trying to create a hole pattern for have been flattened via a Family Table, however that shouldn't matter as I made a test file using the Hole command and all went well.
For imported geometry, you can create Hole table. But for that hole/cuts in imported geometry needs to be recognized as hole. You can use Feature Recognition tool for such holes, depending on geometry.
Feature Recognition tool can enabled by setting config frt_enabled as yes. further details are in