I'm not sure when this is going to be fixed, so I made a resource pack for myself which resolves this by moving the icons to the bottom right corner. Thought I can share it here. Unfortunately, I'm not sure how offset works in the UI files, so it might depend on the resolution of your device. If it's not in the bottom right corner, you can change the position by editing the hud_screen.json file. Find "mob_effects_renderer" part and change the second offset value right. By default it's 24, in my version it's 824, so the higher the number the lower the icons.
[media]EDIT: For some reason the extension is changed to .bin when you download it but I think you can still rename it to .mcpack or .zip and it should work.
I just noticed this in version 1.19.81
Noticed this gets much worse with the Windows scaling feature, so this might also be a problem of accessibility for people who are visually impaired and use high scaling options. On a 1920x1080 display it's uncannily large at 125% but still completely functional, at 150% some buttons aren't visible anymore, at 175% you can't even access the play button.