Gracious Tiff, you don’t have to wait for the new release for pips. They are in the release build, in the “Cmprs” group of 3D, all four corners. They are a little extreme in their video safe area allowance, but they should do for an over the shoulder, news desk shot. Don’t ask me why they are called CmprsQuad.
I think for a scoreboard clock you would prefer one of the group nearby called simply “Cmprs”. These will continue to look good smaller, while the others just leave more and more background room, as they get smaller. With these you will need to pay attention to video safe area, perhaps with a looser frame of the clock, because they are shrinking to the corner raster, not safe area.
Leave it to my young friend Jared to have taken it to beyond what you asked, but in answer to his: No crop. They will be a 4x3-ratio frame shape. Moved, yes, according to the Transitions design. Size, yes. Switch with them up, yes. Cuts only. With graphics, sure. Can be over graphics and/or with a title template overlay. You might need to build a custom template to fit with the pip. Without having gone for that exact thing, I have several in my jobs pac of title templates that could work, including a square window for the clock.
Nes Gurley