It has to be figurative, like that was just Pryde’s choice of words and considering what one learns about him in the film later? I kind of like the idea of him using that word, especially since the way he speaks, he clearly thinks very highly of the Emperor and the old Galactic Empire and unlike other Imperials from the past seems to at least have a respect for the Sith. Plus, this is Palpatine, I’m almost certain something like the Sith Eternal fleet would’ve been one of those things that only those who are the absolute closest in Palpatine’s circle would know about so as far as Pryde’s concerned? The report might’ve described something about the fleet and when he read about it, to him it might as well be that they were conjured up, not like he has any other ideas really on how this came to be.

To add onto that, it’s pretty easy to just assume that Kylo’s ventures to Exegol are what’s being talked about and that we’re just seeing the end of that meeting where he has already talked on what we know and have seen off-screen which is something Star Wars and other movies do quite a bit.