If that race was seperate to the hub, the hub (and the wheel) would fall off. Leaving the bearing on the stub axle.
The outer race is machined into the hub. Or put it another way, the hub IS the outer race.
Which side are you talking about?
the race shown in this picture HAS to be a separate seat, it'll seat right up to a shoulder machined in the hub (& presumably the same on the other side so that as you tighten the hub nut you load up the pair of bearings) 
There are two races in the pic. The one you see, and one behind it. It's double sided one either side of the same central ridge.
So think of ot this way,there's the inner inboard race on the stub axle, the the ball race with plastic cage, then the hub goes on which forms one side of the double race baring complete...then the second ball race with plastic cage goes in on the race you can see. Then the outboard inner race goes in followed by the nut that squeezes the two inner races together onto the single ridge in the hub(the one you can see) there by holding the hub in place. If the central ridge was separately pressed in, the weight of the car would lever the hub off the baring.
1.Is there any reason the inside of the hub couldn't be hardened in a seperate process?
2. Can somebody show me the baring complete to be pressed in?