That is a lot of silicone. More than 90% of the silicone will be squished out or packed in the bolt holes.
I agree with Brianj5600 on this. I've built dozens and dozens of engines, transfer cases, transmissions, and differentials over the years, and I never use anything close to that size bead. On the production line for Harley and Polaris (both companies I've worked for as a design engineer), the tech setting up the RTV gun would be in trouble using a bead that size. It's wasteful, and the part of the excess that squeezes into the case can plug filters, if present, when it breaks off.
I'm going to need you to show me the math on that.
Ok. The sealing surface width on a Dana 44 is about .75". As you can see from the picture below, the bead width looks to be about 1/4":
The area of a circle 1/4" in diameter is pi x R x R, or 3.14 x .125" x .125", which is 0.049 square inches. So, if 90% squished out, that would mean that the thickness of the cured RTV remaining on the .75"-wide sealed surface would be:
.049 square inches x 10% ÷ .75 inches, or .0065"
In my experience, that thickness seems to be realistic. I concur with Brian5600's estimate of 90%.
Additionally, the RTV on the outside of the holes serves no purpose. Again, on production lines, that would not be there to save cost (every penny counts in vehicle cost to the bean-counters I despised.)