@Bob Sorel
Yes, we're likely in the minority using MC with a CIH setup. Therefore, I can understand why adding these features is low on the totem pole. However, some workarounds exist to achieve most of what we'd like. MC works mostly out of the box for me, so that's the reason I paid for a master license to support development rather than just a Windows license.
@JimH and Hendrik
Thank you for the pointer to the wiki. After further digging, and Bob's suggestion, I found the configuration settings by right-clicking on the video.
I read on AVSforum that for madVR to move elements such as subtitles and the OSD, into the "active video area," that the hardware decoder had to be changed in LAV filters to DXVA2 (copy-back) or D3D11. With the native LAV filters, unfortuantely, they are auto-configured and greyed out for any modifications, and the OSD and subtitles remain beneath my screen. After installing the external LAV filters, and changing the hardware decoder, it works as desired.
It'd be great to stick with the internal builds if possible for consistency when upgrading, so is there a way to make the necessary changes to the hardware decoder within the native LAV video filter? Or is there some other setting I should change?