Place a steamer insert in a large skillet or 4-quart Dutch oven with a tight-fitting lid. Add water to the saucepan to just below the steamer insert. Bring water in saucepan to boiling. Place pepper quarters in the steamer insert. Cover and steam over medium heat about 18 minutes or until peppers are tender, adding more water as needed to maintain steam. Transfer pepper halves to a blender or food processor. Add olive oil, salt, and hot pepper sauce. Cover and blend or process until smooth. Set aside.