Hole creates various types of hole features in the model. You place a hole and set a depth on a planar face. You can specify its location by dimensioning it afterwards.
Recommendations
In general, it is best to create holes near the end of the design process. This helps you avoid inadvertently adding material inside an existing hole. Also, if you are creating a simple hole which does not require additional parameters, use Simple Hole.
The second option, using Hole Wizard introduces additional parameters that are not required with simple holes. Simple Hole provides better performance than Hole Wizard for simple holes.
Hole Wizard creates holes with complex profiles, such as Counterbore or Countersunk.
To create and position a simple hole: