The instructions at the bottom of this blog post (https://ishan.co/external-monitor-underscan) worked for me:
1. Make a backup of the current file:
2. cp /var/db/.com.apple.iokit.graphics /tmp/.com.apple.iokit.graphics.backup
3. With the “troubled” monitor connected, open Display Preferences, and change its settings. For example, I changed the rotation.
4. Run the “diff” command to see what had changed in that file after you made the changes:
56a57,58 >framebuffer-rotation >0 58c60 <10000 --- >9000
5. I derived 9000 from -10% less overscan, which works great!
The process is automated in this Bashmatic script! (https://github.com/pioneerworks/lib-bash/blob/master/lib/osx.sh#L41-L53)