Had this idea off and on again for a while now, but this time I happened to be in front of a computer when inspiration struck.
Made with GIMP 3.0.4. Yes, I used the awkward {selection + normal fill + smaller selection + erase fill} method to draw the circle. There was also a bright spot in the image under the text that required a drop shadow.
Can’t you just use the ellipse selection and do a trace selection?
Edit: Stroke Selection is the proper name
There are many way to do it, but I just want a single-step solution, preferably one where i can then adjust sliders to hone in the look with live preview