Perhaps with the release of Windows 11 there is a solution. I am still looking for a workaround for 64 bit apps.

Office 365 or Office 2019 or older, 64 bit version.

OneNote for Windows 10 (the default that comes with Windows).

The biggest limitations are that the program does not work properly on 64 bit applications.

Supports accurate highlighting on multiple monitors and different screen magnification settings no manual scaling needed.

Removed the extended monitor feature (poor performance).

A bug is fixed in which division by zero could occur on startup.

Version 11 is almost identical to version 10 except: This program is distributed under the MIT License. It's intended for use in presentations on a pen-enabled laptop or PC so your audience can see what you're pointing at on the screen, since most programs show the pen's location with an eensy-weenie-teenie-tiny dot that is almost impossible to see on a projector screen. PenAttention is a free Windows program that displays a highlight, pencil, or pointer at the location of the pen. PenAttention - Highlight your pen or mouse cursor

Windows 10 not highlighting files