[BUG] External camera view displaced by HUD setting

[HawkbitAlpha]

YSCE Build Number
Upstream - any YS version (screenshots from 2018)

System Specifications
OS: Windows 10 Pro 64-bit
Processor: Intel Core i7 CPU X 920 @ 2.00GHz 8-Core
Graphics Card: NVIDIA GeForce GTX 460M, 1536 Mb
RAM: 8GB

Description
Not sure if this is truly a glitch or an intentional design, but switching to simple HUD causes the view in all external camera views to be shifted downward, like the lower placement of the crosshair in the Halo games. 3D HUD returns the camera centering to normal. View can't be changed independently of the HUD setting.