Allowing this option to insert a polygon shape will be beneficial. avoid wasting time to draw a perfect boundary free hand. Basic shapes like circle, rectangle / square can be added.
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This is a nice idea. I'm interested to know what you want to use those shapes for?
With regards to importing the polygon or using polygons for other purposes such as subcatchments? For the latter you can use 'Selection' -> 'Selection Operations' -> Change Line / Polygon Type to change polygons into subcatchments for example.