I used a medium flat ended screwdriver that filled half the slot and it was surprisingly easy. I did make that nick though!
Interestingly on assembly i noticed the scratchplate comes pre-nicked at just that point, part of the relicing process?
Looks like it's a reference hole for CNC:
https://forums.fender.com/viewtopic.php?f=10&t=92386
For the long answer, Talkbass appears to have a 13-page discussion...