There is always going to be the argument that the Septuagint is older than the Masoretic text and therefore takes precedence.
Translation from Hebrew to Greek or any other language has difficulties. The Dead Sea Scrolls in general provides strong support of the ‘MT’ translation.
Psalms 22:16 (17 in the Jewish Tanakh)
The translation given is: "Dogs surround me, a pack of villains encircles me; they pierce my hands and my feet." (NIV)
Pierce has been translated from the Hebrew word *** Ka-a-ri***
This reading is based upon the Masoretic Hebrew Texts that reads as follows
Psalm 22:17 (Hebrew text) כִּ֥י סְבָב֗וּנִי כְּלָ֫בִ֥ים עֲדַ֣ת מְ֭רֵעִים הִקִּיפ֑וּנִי כָּ֝אֲרִ֗י יָדַ֥י וְרַגְלָֽי׃
Here we can see Masoretic Text clearly has כָּ֝אֲרִ֗י kā-’ă-rî,
So should read - P22:17 17 For dogs have encompassed me; a company of evil-doers have inclosed me; like a lion, they are at my hands and my feet.
Kā-’ă-rî, means like a lion, there is no argument against this. Ari ă-rî, means ‘lion’ and the prefix kā Ka means ‘like’. The literal translation is ‘like a lion’.
Hebrew, the phrase “they have pierced” is possibly kaaru [having said that there is no verb in the Hebrew Language כָּֽאֲרִ֔וּ (ka’aru). At best it can be understood as ‘dug’ or ‘dig’ as in a hole for a well for example.
Isaiah kaari is translated as a lion
Isaiah 38: 13 I reckoned till morning, that, as a lion, so will he break all my bones: from day even to night wilt thou make an end of me.
Psalms 22:21 reads
Save me from the mouth of the lion! You have rescued me from the horns of the wild oxen!
Greek Septuagint has the word ὢρυξαν, ōruxsan, which actually means “they dug”
common animal motif
Passages before & after Psalm 22:17. Psalm 17:11-12 and 35:17 are sister passages to 22:17
“Many bulls surround me; strong bulls of Bashan encircle me.” (Psalm 22:12)
“Roaring lions that tear their prey open their mouths wide against me.” (Psalm 22:13)
“Dogs surround me, a pack of villains encircles me“ (Psalm 22:16a)
They are like a lion hungry for prey, like a fierce lion crouching in cover. (Psalm 17:12)
How long, Lord, will you look on? Rescue me from their ravages, my precious life from these lions. (Psalm 35:17)
Numbers 23:24 (veka'ari), and I as a young lion
Numbers 24:9 (ka'ari), like a lion
Ezekiel 22:25 (ka'ari), like a lion
PSALM 91:10-16 no harm will overtake you, no disaster will come near your tent.11 For he will command his angels concerning you to guard you in all your ways; 12 they will lift you up in their hands, so that you will not strike your foot against a stone. 13 You will tread on the lion and the cobra; you will trample the great lion and the serpent. 14 “Because he loves me,” says the LORD, “I will rescue him; I will protect him, for he acknowledges my name. 15 He will call on me, and I will answer him; I will be with him in trouble, I will deliver him and honor him. 16 With long life I will satisfy him and show him My salvation.”
[again we have lion & will not strike his foot let alone have holes]
*** Nahal Hever Cave***
The Nahal Hever Cave - second century manuscript which some say supports the reading of “pierced” in Psalm 22 - כָּֽאֲרִ֔וּ (ka’aru)
The writing on this script is not sharp or uniform. Some argue that the anomaly is due to scribe’s poor handwriting / spelling. Others say the ink is to faded to be sure.
The very next word “my hands.” The Hebrew word in Psalm 22:17 is יָדַ֥י (yadai). The Nahal Hever scribe, however, misspelled this word by placing an extra letter ה (hey) at the end of the word. Thus, the Nahal Hever 5/6HevPs reads יָ֭דֶיהָ instead of the correct יָדַ֥י (yadai). The Hebrew word יָ֭דֶיהָ (yadehah) means “her hands,” not “my hands.”
So, its arguably how reliable these documents are and do not pre-date other documents.
Dead Sea Scrolls at Qumran. Other segments of Psalm 22 were discovered, but not this section.
Matthew was clearly familiar with Psalms as he quotes Psalms 22:1 in Matt 27:46 and many other quotes from Psalms and OT books – yet he does not mention such an important point that will directly correlate with the crucifixion.
Paul who quotes OT numerous times and the gospel writers familiar with the OT don’t mention this.
Other supporting evidence
If Jesus hands and feet were pierced & there were holes as implied such as the Thomas story in John, this would cause a conflict with other passages.
Psalms 34:20 & 22 - 20He protects all his bones; not one of them will be broken
[There not going to be little nails and no matter how experienced they are in the crucifixion; they are not going care about putting nails in such a precise manner to ensure no bones are broken – just unrealistic]
Astonishingly - No mention of any pierce / holes / wounds etc… [unlike Thomas – see https://hermeneutics.stackexchange.com/q/77233/33268 ]
Luke 24:39 - "Behold my hands and my feet, that it is I myself: handle me, and see; for a spirit hath not flesh and bones, as ye see me have".
22 - The LORD will rescue his servants; no one who takes refuge in him will be condemned.
Based on the above the strongest argument would be that it is ‘lion’ & not ‘pierced’