It’s definitely not a pressure line , the one end I can see is clamped out a hose coming off the bottom of the power steering pump with a clamp then it runs along the bottom of radiator , to me it looks a power steering cooling line or returnNo, that would be a reasonable temporary fix fine for a low pressure line. You would probably use a barbed splice and clamps yes?
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You'll spend $8 on the fix or $6-$15 on an aftermarket hose.
The part I am unsure about is when you said hole in the metal. The metal is the pressure line and you would need something like this.
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In addition to a pipe cutter.
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About $30 to repair that.
I would replace the line.