If you overcut on both depths then you can plane down the excess inlay after the fact. The thing I like about this method is that you can (theoretically) get sharper corners than you could with a router.
Update: A hybrid approach might be most effective. Use the CNC router to clean out most of the pocket and the area around the perimeter of the inlay and then use the laser only for the detail work.
Hmmmm… need to work on the jigs for reliable and accurate alignment, but that’s just… you know, really simple 