FWIW, while I understand the concern, I have to honestly say that I have not experienced it in macOS Monterey (14.3) on my MacBook Air (M2; 2022). See screenshots below of Sublime Text (Build 4169).
Maybe this is a software specific thing and the Sublime Text developers programmed their software to detect the notch, but I thought it would be worth it to bring up as a example of, “Don’t worry about the notch!”
Screenshot taken from my iPhone; note the “Help” menu item is properly (awkwardly?) placed to the right of the camera:

And here is a screenshot taken from the Finder via Command+Shift+ 4 of the same exact menu; note that the “Help” is placed in the same location as above but the camera is not pictured since this is an OS screenshot:

It’s ultimately a bit awkward, but at least no menu items are hidden.
Note that when checking Sublime Text info in the Finder, nothing like “Scale to fit below built-in camera” is checked:

Update: This is very odd, but I experienced this issue while in macOS Sonoma (10.3). See pictures below; the first image shows icons for (left to right) FortiClient and Dropbox:

And then after Zoom is launched, the “Camera On” green icon overlaps the FortiClient:

But wait! Something changed since I updated macOS Sonoma (10.3.1) earlier this week (2nd week of February 2024)! The issue is solved. Now with Zoom launched, the “Camera On” green icon is properly placed to the left of the FortiClient icon:

I see utterly nothing mentioned in the macOS update notes for Sonoma, but I swear that is the only change that I made between the first set of screenshots and the later set of screenshots. Odd; was it the macOS update or a cache cleaning as a result of the update? Who knows. But I wanted to share this quirk with you.