The top left corner of the ellipse coincides with the given location. This means you should calculate the Location property considering the Width, Height and the center of the ellipse. In the Map Shape Data
article is described that the EllipseData object's Width and Height are in spatial reference units which are degrees by default.
Other way to achieve the desired result is to create a PathData
object with proper EllipseGeometryData and add it to the Visualization layer later.
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