Using the "legacy" fullscreen mode on the new notched MacBook Pro 14" (and likely the bigger one as well) results in the video displaying at the wrong size,
likely because the fullscreen is shrinked to fit below the notch.
In legacy mode, in full screen, the video uses the whole 16:10 display allowed by this mode
In normal/new mode, in full screen, the video is vertically centered to the screen.
This leads to an issue where the video can disappear behind the notch and extra space is available right under the video.
To fix this, we could center the video to the 16:10 area available when the notch is excluded (this is what QuickTime looks to do for instance)
Here is the notch, visible on the video (I let the pointer on the bottom margin to show the usable free space)
@fkuehne yes i have a new 16" MBP and would be happy to help testing.
With "Scale to fit below built-in camera" and "native full screen mode" both unchecked, as @edrflt tested, the videos are actually centered as if the notch was a functional part of the display.
16/9 play fine but are a bit higher on the display than expected.
4/3 videos have a cut where the notch is.
Aspect ratios in between might have the worst of both, as the example highlighted by @edrflt
With STFBBIC checked and native full screen mode unchecked, you get black bars left and right for 16/9 videos, but 4/3 play nicely below the notch.
With "native full screen mode" enabled, both 16/9 and 4/3 videos play nicely in full screen below the notch, regardless of whether STFBBIC is checked or unchecked.