Yeah I've seen this, it's interesting, but it's mainly used along with proper player tracking no?
It would be static in Kinovea because tracking for team sports requires a different approach than the currently implemented tracking algorithm and that's a big pandora's box.
For the ellipse itself, it may look simple but in order to properly hide the part of the drawing behind the legs of the player it needs to know what's the background and what's the player. At the moment the drawing tools in Kinovea don't have ways to do that. (Maybe it could be done simply with chroma-keying on the grass color, not sure)
I do want to improve the tools to highlight things though. At the very least have a simple free-hand highlighter.
Note that in the (unlikely) case that you already have the whole field calibrated with a perspective grid you could directly use the circle tool to do this. Keeping in mind that it won't properly hide the back part behind the legs of the player.