@Emil Hi Emil, thanks for the reply. To be honest I think it should simply mimic the keyboard when the universal keyboard is selected.
So the user would click On Hold for the button option, then select Keyboard under Universal, and under this setting, it repeats on hold like a keyboard, (repeating the keypress until released.
I really like the way the Universal app works currently. It's very self-explanatory and super easy to set up. This function is also massively for the Discord app, (push to talk where you hold the button to talk and it mutes the mic once release. I genuinely think if you did the above and unlocked it the sale would rocket in the gaming world.