QoL: Hide all but toolbar

I play on the PS4 and sometimes I like to hit L1 and the giant button together to remove all the text on the screen but it also removes the tool bar. Is there a way we could have a short cut that removes everything except the tool bar so I can still see countdowns?

make a custom hud
preset 1 where you show everything and preset 2 where you hide everything you dont want. then assign both to a macro then drag them both to a free croshotbar spot.