Hello there @bjablanovic Welcome to the Canvas Community. Thank you for posting your question. Full disclosure...I know absolutely nothing about Panopto or how it integrates with Canvas. However, I searched the Googles, and I found the following websites that might be of help to you:
If you search Google for the words Panopto and Canvas, you'll find some additional resources that have been created by other Canvas schools which also may be of help, but hopefully the two links I've provided from Panopto's website will be a good start for you.
You may also want to reach out to Panopto's support folks as they may be able to provide you some more information...since it's their product integrated with Canvas.
Please let Community members know if you have any further questions about this. Stay safe...be well.