Clarification on Hold-in-lieu-of PT

I just want to get clarification on something that never really gets mentioned. I've been googling and think I found my answer on another forum, but here it goes.

RNAV18 @ FNT has a Hold in lieu of PT depicted. As I understand it, you are required to fly the hold UNLESS you are on vectors to final or have been cleared for the straight-in approach. So, if they only say "Proceed direct JUBER, cleared RNAV18" then they are expecting me to fly the hold.

OK, so I know that much, and I know the hold doesnt apply if my IAP clearance was to to NUPUE, FIBIN, or BIRRS (says No PT). So if I am coming from the North, it's obvious that I will just do a direct entry into the hold, fly 1 circuit and continue with the approach.

If I come from the south, I need to do a course reversal (parallel, or maybe teardrop). Once I do that, do I still need to fly 1 lap around the racetrack? It would seem like a redundant procedure turn.