It does look like it might be an RPM, and if so would be a strong one and very worthy of getting listed. There are not that many RPMs in the USPI series, so it's good to have them documented. I can't really tell if it's an RPM from the photos, so I'd suggest trying to get the best photos you can, with light coming from different angles, and posting them on the Attribution forum for the CONECA folks to look at. Based on your pic I give it a 75% chance of being an RPM, and 25% chance of being a die gouge. But it's free to post the coin and get feedback, though if you post the current pic(s) they'll probably just ask for better ones.
I cherry picked one that was up for auction with poor pictures. I could make out that the hair was of the "Reverse of 1907-1921" mule, but in-hand, it has distinctly different die-markers from either the "typical" 1944-S or the muled variety. Is it possible that this is a transitional type (or that some of the muled dies were reworked)? The smoke plume from the volcano is more like the typical type. But the details on Mt Luzon are well defined, but again, different from the mule. The shape of the "O" in Centavos also is quite different from either of the other types - the typical type has a recurve in the outer edge of the O creating a bulge around 8:00 to 9:00, while the mule has a smooth circle. Both have a rather boxy oval interior. But, this coin seems like a cross between the two, with the inner ring being slightly tapered toward 6:00. Or, I've just been staring at it for too long.
Send it to Mr wiles if you think it's a new RPM I know he loved to look at it http://varietyvista.com/1945SRPM001 PI50C.htm And yes I know this is a different year than the op coin
The process for having an RPM attributed at CONECA is to post some initial images at the Die Variety Forum, and if the response there is positive, follow their instructions on submitting them for in-hand attribution. Go here for the Die Variety Forum: Die Variety Forum - CONECA Error-Variety Coin Forum (conecaonline.org)