I have a pretty general question. I have encountered this problem several times now (I'm a beginner, by the way). In the case I had two diferent planes (just edges, not faces yet) in the same XZ coordinates and wanted to create a face for the bigger element, but leaving the smallest one blank, as it was a hole on the biggest one, how would you proceed? Which is the easiest or fastest way to do it? I'm adding some screenshots. Thank you on advance!
Edit: Situation with knife project.