If you aren't limited to any specific software, there's an extension available in Inkscape called "Hershey Text" which allows you to use true single line SVG fonts. There's quite a limited choice, but the software and fonts are all free.
Here's an example:

All of the default fonts included in the extension are not smooth, but made of straight line segments. This could be problematic. However the one I used in the example above has nice curves. It's called TwinSans - and is available as an extra download from https://gitlab.com/oskay/svg-fonts. When you use the Hershey Text extension, you can choose the "Other" option, and type in the path to the SVG font file. You might be able to find other single line SVG fonts online.
Edit: I note there is a website where someone has provided some smoothed versions of the Hershey Text fonts here: https://cutlings.datafil.no/smoothed-single-line-fonts/.
as small as physically possible on my machine... what size is that?