The phrase "as deep as" implies equality, while the phrase deeper than would imply inequality. Here, the non-underlined portion of the sentence uses the word "deepest" to describe the hold, so the comparison needs to express inequality. Eliminate (A).
A vertical scan reveals that (B) and (C) commit the same mistake as the original sentence, with "as deep as," so eliminate them as well. Additionally, (B) adds the word "supposed," which changes the meaning, and (C) inserts the word "any," which is unnecessary and does nothing to improve the sentence.
The only difference between (D) and (E) is "any" versus "the." As stated above, the word "any" does not improve this sentence. While it is true that the new hole is over 200 feet deeper than any previous record holder, this fact logically follows from the fact that the new hole is over 200 feet deeper than the previous record holder, so the word "any" does not provide any further clarity and in fact introduces a redundancy. Therefore, eliminate (D), leaving (E) as the correct answer choice.