Sometimes the calibration panel works well but other times not so much. For me, it mostly impacts some blue band captures.
One big issue is that the P4M has a different definition of vignette correction in comparison to Micasense so DJI is discussing this and trying to find the best way to solve the issue.
Given the vignette issue, I suspect that some other metadata values may not have a one-to-one correspondence with MicaSense metadata. Also, given that vignette correction is not successful, and it is part of the calibration panel routine, the calibration panel would need to be in the center of the frame so it isn't in a dark spot in the image. I'm not sure if anything else in the calibration routine "breaks" due to the vignette issue. The vignette can be solved with "calibrate colors" later on in processing, but the DJI metadata parameters might need to be translated to MicaSense equivalent, or the Agisoft code might need to be modified for the P4M.
Also, for troubleshooting this, I recommend against trying to use the sun sensor and just stick to panel calibration.