There wasn't anything in there, and it was clearly only sealed around the outside, should've pulled that dipstick out first huh.
I went to the dealer to purchase a new dipstick and I spoke to a Volvo tech.
This is what he told me:
I spoke to a Volvo tech, and he said all the pressure is inside the pump, and torque converter and the part in the picture is the transxle area which isn't under pressure(hence the breather tube at the top), so there is no sealant needed around that pumps outer diamter, the fluid bath just runs down there without leaking and it sits in the lower area while not operating, only about an inch or so above the bottom. He also said I could just use regular trans rtv around the outside.

I guess that would make sense, when I removed it, there was nothing there around that outer part of the pump.