I stand corrected, 4:3 (16:12) is already available in the app just wasn't thinking right lol. So Sidecar scaling is supported as of now.
EDIT: works well with Sidecar -> Mirroring the Dummy display! Lag/latency wise, feels at least the same with native Sidecar. And thanks for the humongous amount of res options, even though I don't need it right now.
I have another usecase: I used to have an off-brand external display that doesn't register HiDPI res to Macs. Bought DisplayResX for that, but maybe this can help. Once again thank you!