Sounds like it's time for a conversation with the folks at Penn Engineering and Manufacturing...
So, your 'Hole size in sheet' is the hole you model in the piece of sheet metal. 032 is .189. The 'max hole in attach part' is a larger hole, in this case .210, and is there so the stud has some surface area and won't pull thru from the other end. The unthreaded length is there so you won't attach 2 thins sheets together. I wouldn't get too caught up in those numbers. Just model the correct size hole and make sure you have a note on your drawing that says something like Install per Manufacturer's Suggested Procedure.
Also, I'd suggest that you model or download and change dimensions so that you have all the available sizes under one PN for each size...
Hole in sheet = hole that the PEM will be installed into.
Max hole = hole size so the fastener doesn't get pulled through while tightening down. For a #10 I think the normal hole clearance is .201
The unthreaded portion of the stud should be covered up by the minimum sheet thickness.
Thank you all for the information. It was all very informative and exactly what i was looking for. Have a good day!