ios – How to ignoreSafeArea when presenting content in SwiftUI Sheet?

I present a SwiftUI View using a UIHostingController with modalPresentationStyle = .overCurrentContext. Inside this root SwiftUI view, I present a .sheet with a custom modifier to make the sheet background transparent.

Minimal Reproducible Code:
import SwiftUI

class SheetViewModel: ObservableObject {
    @Published var isPresented: Bool = true
}

struct RootSheetWrapper: View {
    @StateObject var viewModel: SheetViewModel
    
    var body: some View {
        // Transparent host view acting as the anchor for the sheet
        Color.clear
            .customTransparentSheet(isPresented: $viewModel.isPresented, height: 400) {
                SheetContent()
            }
    }
}

// Minimal version of my custom sheet extension
extension View {
    func customTransparentSheet(
        isPresented: Binding,
        height: CGFloat,
        @ViewBuilder content: @escaping () -> Content
    ) -> some View {
        ZStack {
            self
            SomeOverlay()
        }
        self.sheet(isPresented: isPresented) {
            content()
                .presentationDragIndicator(.hidden)
                .applyTransparentBackground() 
                .presentationDetents([.height(height)])
        }
    }
}

private extension View {
    @ViewBuilder
    func applyTransparentBackground() -> some View {
        if #available(iOS 16.4, *) {
            self.presentationBackground(.clear)
        } else {
            self.background(Color.clear.ignoresSafeArea())
        }
    }
}

Sheet Content:

    struct SheetContent: View {
        var body: some View {
            VStack(spacing: 0) {
                // This image should sit behind the home indicator
                Image(systemName: "star.fill")
                    .resizable()
                    .aspectRatio(contentMode: .fill)
                    .frame(maxWidth: .infinity)
            }
            // This makes the background transparent, but the bottom safe area 
            // still clips the Red background/Image above.
            // .ignoresSafeArea(.all) // <--- THIS DOES NOT WORK
        }
    }

I present it like this:

func presentSheet() {
        let viewModel = SheetViewModel()
        let hostView = RootSheetWrapper(viewModel: viewModel)
        
        let hostingController = UIHostingController(rootView: hostView)
        hostingController.modalPresentationStyle = .overCurrentContext
        hostingController.view.backgroundColor = .clear
        hostingController.modalTransitionStyle = .crossDissolve
        
        self.present(hostingController, animated: true)
    }

What I have tried:
Applying .ignoresSafeArea() on the VStack inside SheetContent.
Applying .background(Color.clear, ignoresSafeAreaEdges: .bottom)

I do see the sheet taking up safe area if I provide the height of the content and sheet to be less than the height of the image, is subtracting height of bottom safe area only way? Please help.