2. Relative pressure (Rel) represents what the atmospheric pressure would indicate if your station was theoretically located at sea level. This is done because it provides a common barometric reference for all weather stations regardless of their elevation.
For our weather stations we usually assume station pressure = atmospheric pressure (raw pressure) measured/observed at the elevation of sensor.
The term "relative pressure" is not used so much these days but this is the SLP you see in METAR reports. Basically, The station pressure is theoretically "reduced" down to sea level elevation. Note: it sis easy to get confused here with the terminology. You are not reducing pressure you are reducing elevation to mean sea level. Yes, high tides, low tide is taken in account.
The calibration process is usually two steps.
1. correct for sensor error
2. set your barometer to your elevation.
For a Davis VP2, SLP is already calculated for you in the console so all you need is the elevation of your sensor. Hwever you still need to check if your barometric sensor is accurate or not, The BMP280, BME680 are accurate to 1 hPa and so is the VP2 barometric sensor. The newer Bosch barometric sensor (BMP390) is accrate to 0.5 hPa.
You could calibrate your VP2 with the higher spec BMP390. Just match the pressures and you are done! or alternatively you can match Altimeter with a close-by METAR.
So no, we will not be achieving 0.05 to .10 hPa accuracy WMO standards with our consumer grade personal weather stations!
For Ambient Weather/Ecowitt weather stations, SLP or Altimeter (setting) is estimated by using a fixed offset ( a fixed amount correction) to Absolute pressure/station pressure.
Keep in mind that different countries use different pressures. Most countries don't use SLP or Altimeter - they use QNH in whole integer amounts which makes matching difficult as you would have to match 1013, 1014, 1015, etc. If you luck out, some countries publish decimal QNH like the BOM in Australia.
I couldn't answeryour questions regarding digital survey/elevation but none of the sensors we're talking about come even close to 10 cm accuracy. as these sensors have "noise", drift, , etc. You can only do so much with a $10 sensor. but yeah, it can be a rabbit hole for sure.