Solved.
For further readers:
I've added a check to the child widget whether a user interaction happens within its drawn borders (a closed QPainterPath).
If so, I consume the event and continue from there, if not, I ignore the event and pass it to the parent widget, i.e. the actual MyWidget, so that the overlaying child widget has some transparency for my defined events (some key and mouse interaction).
Pretty easy if I think about it now.
The idea of having some kind of a donut shaped widget (yellow part in my sketch), which does not occupy the center of its parent widget was stuck in my head way too long :))