Metal Running Horizontally Through Center of 2x4 Bracing?

I am trying to drill a wider hole through horizontal bracing in our wall in order to run some low voltage wire. Using a flexible installer bit, am able to get about 1/2 way through what I think is a 2×4. However, then end up running into what seems to be metal.

As far as apparent mechanicals, there are no HVAC ducts, wiring, or plumbing fixtures nearby.

Got my scope out and it appears this is some form of metal in the center of the 2×4. I don’t think it is sandwiched between two 2x4s.

Sorry for poor quality, phone photo of scope screen. You can see what looks to be the metal as the darker, shiney part below the existing hole:

Any ideas on what this is? Can I safely drill through it? Thoughts on how to proceed?