I find that if one adjusts the Depth per Pass so that only a very final shallow pass is made things work out pretty well — say if cutting to a depth of 0.5" with a Depth per Pass of 0.125" which results in 4 full-depth passes — reduce the Depth per Pass to 0.124" and one gets 5 passes, the ultimate of which only removes 0.004".
Alternately, draw lines, offset the text and the surrounding geometry and then use Trim Vectors to remove everything which is inside and assign a No Offset Contour toolpath — if you’ll upload a file we can walk through that with you, or maybe a Facing toolpath?