For each editorial hole, you need one and not more than one object library with the same dimensions of the editorial hole. The library can contain as many library objects as you want.
Do not create more objects libraries for one editorial hole!
Example: this horizontal split page has one editorial hole that is the space which remains above the ad and its cut rule.
Before attempting to create a new object library, see How to check if there's already a library for the given editorial hole?
For more details, see also