I think an ideal heat recovery system would probably sit mid-stream in a central air system with a built in CO2 trigger. Basically, the return air gets exhausted while heating the incoming/supply air when CO2 concentration > X. Obviously you run into the capex vs ongoing energy cost tradeoff in designing the system.

Strangely, I couldn't find a ventilator on market with a CO2 sensor, but there are plenty with humidity sensors. I think CO2 sensors are on the horizon though, here's a study featuring such a system: https://core.ac.uk/download/pdf/43245317.pdf

My current system is actually ductless however, so I will probably have to rely on natural diffusion... I do have an air quality monitor which indicates that diffusion is likely sufficient (for a one floor open plan condo), but you'll optimally need to sleep with the bedroom doors open.

Edit: I haven't looked too deeply at the standards. My little sensor indicates that if you keep CO2 in range, VOCs will also also be in range, which conforms with my intuition.