A reply from one of the greats on my first post! Thanks for taking a look at my logs.
The solution turned out to be in the Wiki (partly).
As @Ferrosan recommended below, addressing the ACC_Z_P and ACC_Z_I addressed the problem.
For any future readers googling this solution, despite the oscillations, you can still review the datalog for hover or check the learned hover value, which in 4.5 appears to be much friendlier for powerful quads like FPV style.
I’ll post an updated logfile with post-tune values after I dial in the HNTCH. Thanks again for your review gentlemen.
With regards to the POSZ_P and VELZ_P values, now that I’m no longer oscillating in the Z axis, is there anything I can do beyond defaults for those two values? What will changing them higher or lower do to my quad in alt or loiter?