The other orange dot on iPhone - not the microphone

Status icons and symbols on your iPhone - Apple Support

Do you only see the dot in that shifted position when you are on your Home Screen?

If you make a phone call (not FaceTime) and then go to your Home Screen during the call, are there then 2 orange dots?

If yes to both of the above, I'd have to wonder if your wallpaper has something to do with it. Try changing to one of the apple wall papers and see if it goes away..

Is the Home Screen wall paper a screenshot? My guess would be that Home Screen wallpaper IS a screenshot that was taken while microphone was being used. Then when setting the wallpaper it was zoomed in slightly, which would shift the orange dot.

I was wondering why the other stuff like cellular strength bars and wifi icon wouldn't show up.. so I just did a quick test by making a phone call, zooming in on picture.. the only thing that remains in the upper corner is the orange dot (which supports my theory).

So... Did you try changing wallpaper?

no problem, glad to be of help!

You could try viewing that screenshot in the Photos app and then editing/marking up the photo to scribble out the orange dot.. Then setting the edited version as your wallpaper again. (if you are intent on keeping that wallpaper)