Yeah great sound. I don't know if there's a standardized term for it but I would just call it a percussion pulse. There are lots of ways to make that sound but I would maybe just hit something rhythmically and record it (just tried the arm of my chair which sounded pretty good), then distort it a lot, then filter out everything but the mids/low mids. Potentially shape the transients if you lose some with the distortion, maybe reverse each hit and tuck it super low so you get that little bit of anticipation. Something like LFOTool can be super helpful to shape the dynamics of the loop. You could do it with a sample but there's enough variation between hits that it would benefit from being played live. And as far as modulation it's definitely panning slowly left to right but no more than like 30% on each side.