Well, it would be incredibly hacky, but what about duplicating your map layers, excluding some from the clip, and changing the display? Here's imagery added twice, but the non-clipped version has 50% transparency.


It's a far cry from Q's "inverted polygon" symbology style, that's for sure.
An opposite strategy would be getting a global-coverage layer like Jon Nelson's global blank basemap, then using layer masking to mask out the area of interest.
- Josh Carlson
Kendall County GIS