If anyone else has the same issue, here's how I solved it. I used Material Icons SVGs and converted them to elementor-supported icon pack using fantastic and uploaded them in the Custom Icon section. I'd say the Material Icon pack worked out okay for me. Still not as good as the default font awesome icons. Source: over 1 year ago

There are many approaches. In your case, you just use icons that you need and unused icons won't be added to the bundle. If I need just a few icons then I generate custom fonts (I usually use https://fontastic.me). Source: almost 3 years ago

With an SVG we can define our image as code, which is pretty neat. But SVG is not able to wrap texts. We can use opentype.js to calculate the width of our texts and to wrap it manually. Finally we have to convert the SVG to a PNG, because the most of social media platforms do not support SVG. This approach could work, but requires a lot of code and it is very complicated. - Source: dev.to / over 1 year ago

The repo is public so you can take a look if you're curious. I used opentype.js to convert the font into SVG in real-time. It was a PITA. Source: about 2 years ago