Inspired by undot by s4y
Since macOS 12.2, the dot is no longer a simple window that can be moved away.
Removing the dot in 12.2 and later requires altering system files, which I wouldn't want to do.
Tyshawn Cormier came up with a very clever solution for this in his RecordingIndicatorUtility app. Check it out if you still want to hide the dot!