Mustard on YouTube did a video on the French SNECMA Coléoptère, which had a ring for a wing. It tended to rotate while hovering, and hard to steer during landing.
(9 min) https://youtu.be/unz6mfjS4ws
Those rotary woofers deliver supposedly good distortion up to their rotation frequency; 13 Hz / 800rpm seems common. For reference, a tail sitter propeller would probably spin faster than that, though even this is plenty to control the aircraft. A blade design using a servo flap easily keeps up with those control speeds, and could likely even offer thrust vectoring like the rotor of a helicopter (could eliminate the flaperons).
The real enemy is power-to-weight ratio.
[0] https://en.m.wikipedia.org/wiki/Lockheed_F-117_Nighthawk
The closest to this design off the top of my head would be the Lockhead XFV (1954): https://en.wikipedia.org/wiki/Lockheed_XFV
The idea of a VTOL tailsitter, but without the single primary planar wing surface, goes much further back. The Nazis were in the process of building the Triebflügel at the end of WW2: https://en.wikipedia.org/wiki/Focke-Wulf_Triebflügel