I've just submitted my request to Apple for an option to disable this, or at least hide it when using full-screen apps.
I use ScreenFlow to record software demos. Usually, I'm recording Chrome/Vivaldi in Full Screen Mode, on a secondary display. I'm fully aware that ScreenFlowHelper is using the mic, but now that orange dot appears in every video I record, even on the secondary display.
I don't think my clients will appreciate having a bright orange dot in the upper right corner of every video. Hopefully, Apple will provide an option to disable this feature, or at least temporarily hide it, either when using apps in Full Screen Mode, or on secondary displays.