i have a problem with this as well.. i'd like an option to hide the indicator altogether.. it's extremely immersion breaking, to the point it actually stops me from using any features that would cause an indicator to appear..
Same problem here.
Also, the overlay is visible on the recorded footage.
This is a screenshot from a recorded video. As you can see the timer in the top left and the recording notification on the right are both visible, and not at all desired.
Thanks, that got rid of the timer, though the timer wouldn't bother me that much, if it only showed up during the recording and not on recorded footage.