You appear to be confusing two variations of the notion of minimal polynomial of a vector space endomorphism, both defined in terms of a specific element but of different algebraic structures.
The simplest (to define) notion of minimal polynomial is that of a vector space endomorphism$~\phi$ of some vector space$~V$ over a field$~K$: it is the monic generator of the kernel of the substitution map $X:=\phi$ from $K[X]$ to the $K$-algebra $\mathcal L(V,V)$ of endomorphisms of$~V$. In other word it is the minimal degree monic polynomial $P$ such that $P[\phi]=0\in\mathcal L(V,V)$.
When $v\in V$ is a particular vector, one could instead just require that $P[\phi](v)=0\in V$, which in general may have a lower degree monic solution that the minimal polynomial (it will always divide the minimal polynomial). This is the $P_v$ of your question. It is equal to the minimal polynomial of the restriction of $\phi$ to the smallest $\phi$-stable subspace containing $v$, namely the subspace spanned by the vectors $\phi^k(v)$ for $k\in\Bbb N$.
Finally when $a$ is an element of a field extension $L/K$, the minimal polynomial of $a$ over $K$ is the minimal polynomial of the $K$-vector space endomorphism of$~L$ given by multiplication by$~a$. This is the monic generator of the kernel of the substitution map $X:=a$ from $K[X]$ to the $K$-algebra $L$, in other words the minimal degree monic polynomial $P\in K[X]$ such that $P[a]=0\in L$. There is no direct relation with the polynomials $P_v$.