Splatmaps? Never heard of it. Thank you very much, another thing I know nothing about.
Yet look at the beautiful holes you've been creating.
The only thing I suspect we will need to be aware of with splat maps is that Unity creates one of them for every four terrain textures you have, OR PART THEREOF. Four textures = one splat map, five textures = two splat maps, eight = two splat maps.
Unity does not store your painted terrain. During gameplay it creates your terrain from your textures and the splat maps (which simply tell it where to paint your textures and how strongly). Eight textures takes Unity just as long to paint as five, but five take twice as long to paint as four.
If you've created a course with nine terrain textures that stutters in the game, a healthy trimming-down might be reducing that to eight.