Hi Steve, if you are in doubt then yes, you should check it.
Its not too much bother and will give peace of mind if nothing else.
I have been trying to find the web page that guided me though this, but it had a page from the Klymer manual outlining the refitting of the pump and this return channel, so perhaps you can track that down?
This is an odd thing as the pump on my K75 did not have a matching hole, was blank, but the hole is in the block and it was full of silicon, a real neat plug of it attached to the pump!
Just the slightest smear in the pump is all it requires as alluded to by AvengerGT above!
When I had the flywheel off to replace the rear main seal, I spent quite some time removing little silicon threads that had become lodged in the splines in this area, obviously propagated from other locations via oil delivery(no thanks to heavy handed application)!
I am not sure of the risk of damage, but is the cause of oil leaks around the pump as the high pressure return to the sump has no path and forces its way out wherever it can once that channel is blocked.
Its so small that you would not think it relevant but as soon as I had the pump off, it made sense as that was the area that the pump was leaking from.
Was really odd for me as the front main seal was also leaking, previous owner or dealer had replaced this, but in the assembly process had managed to get the seal to invert and crankcase pressure would force oil out the front of the engine and out this hole also.
I fixed that and then found the leak around the pump some time later when I noticed that it was still making the oil pressure sensor wet with oil!!
Good luck!