Here is one way to achieve clipping of the canvas / HUD using RHI scissor rects.
I added blueprint functionality as well but you will need to re-parent your HUD to HUDEx as it requires access to the protected member Canvas.
I believe Slate can also clip non axis aligned rectangles. To do this with Canvas you would probably need to either use masks with materials or cut up the triangles and update the UV coords. This would require replacing all existing canvas items to work correctly so materials may be easier with better masking options if anyone is interested in going beyond singular axis aligned clipping rects.
This should answer these related questions