Long story short: What's the best way to patch this kind of damage to monolithic cladding?

I figure we have 3 options:

 

1. Pay someone to sort it, which I'm not totally opposed to - I figure it'd be a relatively quick job? (WAF = low, due to cost)
2. Cover the penetration with some silicone sealer (WAF = low, due to appearance)
3. Patch the hole properly, and re-paint it - we do have the original paint (WAF = high)

The cladding is some kind of monolithic fiber cement (with cavity - it was a 2014 build).

I've been looking for info online, but it seem the Google results are swamped with leaky home articles.

I'm reasonably handy, just not sure where to start with this. Any advice is very much welcomed!