Although I like services like hCaptcha a lot more myself, it may be possible that this notably bothers users and decreases conversion rates.
So either you're in a country that Google has decided is "good" (i'm in Germany), or you're not blocking Google's tracking as well as you think.
Without disclosing my location, let's just say I'm in a much less powerful (and hence, I would imagine, less reputable) country than Germany. I doubt it is in the "good" set, but who knows.
I also doubt I'm not blocking it well enough. I'm running Firefox with CanvasBlocker, uBlock Origin (with strict rulesets) and uMatrix. I also turn on restrictFingerprinting.
(I'm using uMatrix too, but this doesn't solve the issue that if I don't allow reCAPTCHA, I'm stuck on the first step of account creation…)
https://dashboard.hcaptcha.com/signup?type=accessibility
As a user that can't answer the challenges, you have to register with hCaptcha in advance of using the website you want to.
This lets you bypass the verification checks for a while.
The discoverability of this is poor
They've since seemed to put a lot of work into it. To the point where I don't notice it anymore.
They're iterating, and that's what I want to see.