I suppose it is different in dry places but everywhere I have lived, a steel screw in a steel cover will rust off in a few years and you won't get it out in a month.
You could probably get by with a stainless nut and bolt.
I don't see a lot of hand holes but the ones I have seen with metal covers, the cover was not bonded. I do see how it could become a concern though if the splices were not shoved down into the hole or properly insulated.
I would consider this an underground (underwater in most cases) location and want to see a splice suitable for that.
