The Telluride is my second Kia vehicle with the Lambda GDI V6 engine and in both cases, the behavior you describe is what I observe. When I first pull the dipstick it reads much lower than after I reinsert and pull it out again. My first car with this type of engine went 100K miles without any noticeable oil consumption or loss. The level would appear low when first removing the dipstick. I assume the second level is correct.
Why this happens is a curiosity. I am sure there is an explanation. In any case, the owners' manual specifically instructs you pull the dipstick, wipe, reinsert the dipstick and then pull a second time to read the level.