Good news.
I can confirm that this issue has been partially resolved.
The cloud recordings of speaker view still include the not-spotlighted-participants.
But (here comes the good news) gallery view has only the multiple-spotlighted-speakers, exactly as seen during the meeting with active speaker view.
For me, well, it’s end of a 2-year-long nightmare.
Now, I can simply cut and insert the relevant part of gallery view recording, et voila.
Yet, if you would need gallery view of all (up to 25?) participants, keep in mind that you will lose that view in the cloud recordings if you spotlight multiple participants at once.
Again, for our purposes, that’s not a problem. We rarely, if ever, need gallery view recording.
So, though being selfish, I can take a deep breath and say hallelujah 
After 2 very long years, finally, yes 
~ Fatih