That's probably a good rule of thumb for BEV's - for hybrids (MHEV/PHEV) the setup is slightly different in that they have starter/alternators, some also have conventional starter motors, so the starter battery has to be sufficiently sized. BEV's have a relatively small 12V battery as it's only there to keep the vehicle systems running until the EV side kicks in, and charges the 12V battery by a DC-DC converter.
I wouldn't be comfortable drawing any starter battery (AGM, EFB, EFB+ etc.) below 12.4VDC, a battery pack with different chemistry will most likely be repeatedly recoverable down to 11VDC - but not a 'car' battery.
There is no specific EV setting on this camera, I'm thinking of using the '11V external' setting, which is as good as 'off' as the battery voltage will never get that low. Even now, after having the doors open all afternoon, radio on and liftgate up & down repeatedly, the BMS is holding it at 12.7VDC, with negligible impact upon the PHEV high-voltage battery.
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You are right , you can set 11V External Battery .