I suppose many instructors are looking for such a software. I give an exam that requires pencil and paper and computer software. I want to be able to look at computer screens students are using, I want to be able to look at their webcam output, their desk, etc. I want to be able to send messages by chat or voice to class or to a single student. I do not want to share the screen I am looking at, by default, with the entire class.
Of course only external webcams, relocated under command, will have the necessary effectiveness. Integrated webcams have many blind spots.
Some software attempt to automate the monitoring of exams. They produce videos and record student's computer and environment. In my case it has turned out to be of limited value.
What software do you plan to use in the coming fall semester?
I just used Blackboard Collaborative Ultra (BCU) in a summer junior-level class with 15 students. Perhaps BCU it is not meant for this purpose but it worked better than the automated monitoring software. It has 20 breakout rooms. So you can accommodate 20 students, or 40 if you are willing to give two different exams. From the main room you have no view. You have to rotate among the rooms to see anything. So it feels a bit clunky. If you want to check students' work environment ask them to show up in advance (you end up acting like a TSA agent at an airport).
Zoom has 50 breakout rooms. Spreading students into rooms seems easier here. I have not tried it yet though.
Independent webcam allow you to inspect the environment with much more ease and certainty than an integrated one. However most of these do not get secured to anything easily and do not have a tripod or base. They can be secured to objects like a paper towel.
Please note that this is not a discussion about privacy issues, unless it is in relation to a comparison of two software.