Heat oil in a large skillet over medium heat. Add red bell pepper, celery, and onion; cook and stir until softened, 5 to 10 minutes.
Preheat oven to 375 degrees F (190 degrees C).
Combine stuffing mix, cream cheese, butter, and beaten egg in a large bowl; add hot water and mix well until incorporated. Let sit until liquid is absorbed, about 10 minutes. Stir in red bell pepper mixture. Shape into 1-inch balls.
Place bread crumbs in a shallow dish. Roll balls in bread crumbs; arrange them on a baking sheet. Flatten slightly into patties. Wrap patties in bacon.
Bake in the preheated oven until bottoms are browned and crisp, about 10 minutes. Flip and continue baking until crisp on top, about 10 minutes more.