But this is an endless cycle. At some point, the company has to apply some test to see if the candidate is appropriate, IE, can code to the required standard. That will require a time investment from the candidate.
You could simply get rid of the take home test; that will shift the burden to the resume and cover letter, to the advantage of humanities graduates like me.
You could mandate a full day on-site, which will bias against people from out of town who want to relocate and people in delicate situations at their current employer.
For the time poor candidate, there is always the whiteboard exercise... Whose biases we are gathered here to moan about in the first place.
I always feel in these threads that people think hiring is 'broken' and it can be 'fixed' with the proper application of 'one weird trick'. But then all the comments actually have contradictory complaints. So obviously it can't.