The Panopto Block in the course provides an easy method for embedding Panopto recordings directly into your courses. You also can embed the Panopto videos to your module to allow students to view videos without downloading video files, take notes.
Note: You will only be able to embed videos and/or see folders that you have Creator access to in Panopto, regardless of their sharing settings.
How to view the Panopto Block?
Go into your module, click on the 
icon to open the block drawer on the right-hand side and you will the Panopto block is on the right hand side.
How to Embed Panopto Videos?
Step 1 : Toggle on the "Turn editing on" at the top right of your module page.
Step 2 : Locate the Section where you want to add the Panopto video.
Step 3 : At the bottom of the Section, click "+ Add an activity or resource".
Step 4 : Key in "Panopto" in the search box and the Panopto resource will be displayed. Click on the Panopto icon and the Adding a new Activity page will open.
Step 5 : Click "Select Content" button.
Step 6 : Navigate the folder or search the video. Then, select the video and click "Insert" button.
Step 7 : In the "Activity name" text box, update the video name to the desired video name, then scroll down to click "Save and return to course" button.
Step 8 : The video link is embedded in the module now.
Reference: https://support.panopto.com/s/article/Embed-Recordings-into-Moodle