When this is the case at a resort, in my experience it is clearly stipulated at the time of reservation that one night will be charged as a deposit.

I have never heard of a Park Hyatt property charging or making a pre-authorization on someone's credit card before arrival at the hotel, except of course in the case of a prepaid reservation. It's also unclear to me what exactly the hotel is pre-authorizing the OP's credit card for in the first place here, since this is an award reservation.

I would call the property directly and ask for an explanation. I wouldn't be surprised if the charge or authorization were a mistake on the part of the hotel.