Personally I’d prefer if they just keep the side bezels of the 10.5” pro all the way around. Should be enough space for a FaceID camera and everything would be perfectly symmetrical, plus you have a tiny amount of bezel for your thumb to rest on when holding it.
My main concern is landscape mode on the iPad if they do add a notch. Apple completely screwed up landscape mode on the X (by keeping that part of the screen “on” but not in use - I’d rather just have two notch sized bezels on either side, especially if they aren’t going to allow split views like the 8 Plus.)
But overall, I’m hoping for no notch, especially if the iPad isn’t OLED. When watching video on the X the notch disappears because the screen turns off the black pixels...if we have an LCD the notch is going to be lit up constantly when watching video - that will be annoying.