My book wore out long ago, so I checked out my copy of The Hogan Way which borrowed some of the illustrations. Couldn't find the same pic of Mr. Hogan's R hand on the club. From what I could see, it appears the shaft runs directly across PP#3, then just below (i.e., towards the pad of the hand) the finger's creases where they join the pad.
I'm guessing since Mr. Hogan said he wishes he had "Three R hands", the shaft probably lay a bit more in the pad then the fingers.
*I'm leaving for vacation from June 30th until July 9th. But I'll check back in for any more respones when I return.