The W3BSRL should be a Lutron Keypad device in Hubitat. Then you can use a Basic Rule for the outlet toggle portion. Select the Keypad, button 2, and Toggle Switch as the setup for the Basic Rule.
The keypad LED is a different kettle of fish! For this you're going to need to create an automation in Rule Machine just to manage the LED. The trigger for this rule will be the outlet device. The actions will use Custom Action to control LED number 2, with the commands ledOn and ledOff. This could be two rules to keep it very simple, or one with a Conditional Action based on what happens:
That shows how to select the two commands you need.
Here is the final rule:
This overcomes the fact the Lutron has no idea what's going on with your Z-Wave outlet.
