What is the correct name for a footprint that connects to a panel mount component?
Use the most sensible name that will mean the most to most people. If the footprint connection is to a switch then call it SW1 or SW2 etc..

The switch is soldered to wires that connect to the circuit board so, it makes sense to provide meaning in the footprint name. If the panel switch is an SPST type you could even call it SPST1 or 2 etc..