Visually nice but it's almost always going to overlap the thing you've right clicked. Under any circumstance I still want to see the thing I've right clicked.

Interesting concept, but I would add keyboard shortcuts (underlined items) to the menu to make it more of a reminder than be forced to use the mouse all the time.

That was originally part of the IBM Common User Access style guide 80/90s, back when user interfaces for software valued function over form.

https://ia800200.us.archive.org/0/items/ibmsj2703E/ibmsj2703...

the figure on page 2 shows exactly what you are describing.

This and many variants of the idea has been explored in games a lot - in particular in point and click adventures and isometric (or at least top-down view) RPGs. Probably also in strategy games and anything else that has both a cursor and context-specific actions.

Fly-Pie, a radial menu for GNOME: https://github.com/Schneegans/Fly-Pie