I think bonnet straps are another hidious paint damaging unnecessary addition that cause paint damage. Just like running board treads and those wing mounted small side lights, all unnecessary bells and whistles that cause corrosion
You wont get paint damage or corrosion if you apply PPF under the belt

Indeed. That is the ultimate solution.
Ideally if you know you want a bonnet strap, you should miss the relevant area when punching the louvres, that way the strap sits closer and aesthetically looks better too