I've been working on an MacOS and iOS app to do just this if you have an older iPhone lying around. https://telecast.camera/
I've been using it to record multicam music performances/practice sessions as I didn't have an expensive DSLR. The latency of other solutions was too high to easily sync guitar strumming and audio-in from an audio interface.
I'd love feedback! Things like the linked network are of interest, as I'd like to add support for background replacement in the future, too.
I'm also not quite sure which problem is being solved by using your phone as a webcam. Actual webcams are quite cheap and come with way better mounting hardware than your phone. And for freehand videos like in the paper the realtime requirement isn't very common, and if it's there it's usually sufficient to do the processing on the phone and stream directly from there. There has to be something I'm not seeing?
A recent iPhone will wipe the floor with any webcam I've come across, short of an SLR or mirrorless camera.
And what about Bluetooth, are BLE cameras also flaky? (I'm sure classic Bluetooth cameras are.)
I'd like Macs to have an official loopback device so video effects wouldn't have to be implemented in every program separately. For example an overlay that worked in Facetime/Zoom/Teams/etc.