Another approach is to use a single line (‘stick’) font, and use a small endmill. Good stick font seem to be hard to find, and most software doesn’t work well with then because they don’t have an enclosed area.
BUT, a font I have used in the past that ‘emulates’ a stick font is the oddly named ZNiko font, available here:
It’s actually an extremely narrow font, so you can just do a contour cut on it using an endmill and it looks like a stick font. Here is a dog show prize I made - the ‘bone’ is about 1" across on the middle part of the bone. I used a 1mm endmill to carve it.