I guess you'll hate cloaks

You guess correctly

. If we get cloaks that display I definitely hope we get the option to hide them unless Larian do far better at avoiding issues with clipping than early access currently indicates.
Whereas having a shield on one's back can hide a multitude of clipping sins (including "sheathed" weapons poking through backs and bums, which is a problem with some character models in EA), which might be one more reason I'm for showing them but less so things like quivers and backpacks!