If you use a hole rather than a cut a note will be generated automatically with all of the ISO standard specs for the hole. An M30 hole shouldn't have a "diameter" of 30 - this is the nominal and not the pre-tap or clearance.
Is there a problem with using the hole feature with respective note?
No, there is no problem with using notes with thread holes. In my company we are using dimensions not notes to label metric threads holes to avoid overcrowding of drawing. If you dimension such a hole in ProE, result is for example