For those unaware of Einstein's hole argument, let me sketch it.
First of all let me get something out of the way. Say you have a metric tensor function that solves Einstein's equations in ##x-##coordinates, let us denote it ##g_{ab} (x)##. Given another coordinate system, denote it the ##y-##coordinates, there should exist a metric tensor function in the ##y-##coordinate system that imposes the same geometry that ##g_{ab} (x)## imposes in the ##x-##coordinates. We want this to also be a solution of the field equations. This is guaranteed if write the field equations in tensor form. Standard textbooks tell you about this.
However, standard textbooks often miss what about what I am about to explain (Einstein didn't miss this!). O.K. say we have the vacuum field equations in the ##x-##coordinates:
##
R_{ab} (x) = 0 \qquad Eq (1)
##
this is an horrendous differential equation where the independent variable is ##x##. Let us consider another coordinate system, call them the ##y-##coordinates. Einstein required that the laws of physics take the same form in all coordinate systems. Therefore the vacuum field equations in the ##y-##coordinates coordinates should be given by
exactly the same differential equation but now the independent variable is ##y##:
##
R_{ab} (y) = 0 \qquad Eq (2)
##
So as soon as we find a metric tensor function, denote it ##g_{ab} (x)##, that solves the field equations in the ##x-##coordinates, simply write down exactly the same function but replace ##x## by ##y## and this will solve the field equations in the ##y-##coordinate system! Denote this new metric tensor function ##\tilde{g}_{ab} (y)##. Now, because it has the same functional form as ##g_{ab} (x)## but belongs to a different coordinate system, it imposes a different spacetime geometry! This may come as a shock to some people, but it is correct.
Now comes the problem - roughly the Hole argument. What if the ##x## and ##y-##coordinates coincide at first but differ after ##t=0##. You will have two geometrically distinct solutions after ##t=0## but which have the same initial boundary conditions at ##t=0##! EEk! The conclusion is that GR does not uniquely predict the spacetime geometry after ##t=0##! Einstein initially recoiled from this and dropped the principle of general covariance only to return to it. The resolution was to realize that we have a gauge transformation, and we have to understand what is then physically meaningfull given this gauge symmetry.
So what was this transformation taking ##g_{ab} (x)## to ##\tilde{g}_{ab} (y)##? Well, first observe that as they have the same functional form they satisfy:
##
g_{ab} (x^1 = u_1,x^2 =u_2, x^3=u_3, x^4=u_4) = \tilde{g}_{ab} (y^1 = u_1,y^2 =u_2, y^3=u_3, y^4=u_4)
##
where ##u_1,u_2,u_3,u_4## take values with the region of overlap between the two coordinate charts. If you think about this relation, you will realize that these two solutions are related by taking the metric tensor function ##g_{ab} (x)## and actively dragging it over the manifold while keeping the coordinate lines “attached” (see the figure I have provided - the value of ##\tilde{g}_{ab}## at ##P## coincides with the value of ##g_{ab}## at ##P_0##). I won't go into the details of it, but this corresponds precisely to a diffeomorphism as a mathematician would define it.
You can read more about the Hole argument and what is physically meanifull in Rovelli's book, a draft version available at
http://www.cpt.univ-mrs.fr/~rovelli/book.pdf
p.s. if you do a coordinate transformation on ##\tilde{g}_{ab} (y)## going from the ##y-##coordinate system to ##x-##coordinate system, the resulting metric tensor function in the ##x-##coordinates will have a different functional form to ##g_{ab} (x)##, as I alluded to in my previous post.