I do this sort of thing fairly regularly. I can think of a number of ways to do it. One way is to draw the oval before extruding it into a hole. As John wrote, two semi circles joined with straight line segments. This requires some advanced planning but you should be doing that anyway. Don’t get behind the model.
Another way is to rotate the hole so that sides are aligned with the long axis of the oval. Then explode the curves and use the Move tool to move half of the hole in the desired direction for the desired distance.
