You’re welcome. I think the smart plugs are a good investment because they’re a simple way to enable things that might not otherwise be possible (or might be more difficult to implement if attempted another way) by acting as an integration bridge, and if you’re looking to get rid of IFTTT Pro then you have the one-time cost of a Plug or Plug Outdoor instead of an ongoing subscription, so I’m a fan of that. (I don’t currently use subscriptions with any of my Wyze cameras, but each does have a microSD card set to continuous recording.)
I’m not saying that a Plug will solve all of your problems, because I don’t know what else you might be using IFTTT to do. I’ve used IFTTT Free a few times in the past for testing things or temporary solutions, like if I wanted to receive an e-mail message and have a light turn a certain color when a nearby weather station reported a certain temperature to Weather Underground. I understand that it’s good for a lot of different things, but I think a Plug will answer the question from your initial post.
Yes, because you don’t actually need the Plug (or one of the sockets if you’re using Plug Outdoor) to power anything. You’re just using it as a virtual/logical switch to trigger a Wyze Automation and provide an answer to your first question:
The Plug just needs to be connected to power and Wi-Fi so that you can include it in the Google Home Routines you’re already using with your geofence. You give the Plug a name and assign it to a home and a room and then add it to the Actions of your existing Routines, like “when I arrive at home, turn off Notification Switch (or whatever you want to name your Plug)” and vice versa. Then in the Wyze app, you create a couple of Device & Service Trigger Automations:
Camera Notifications ON
- IF
- Notification Switch (Plug)
- Turns on
- Notification Switch (Plug)
- DO
- All devices
- Turn on notifications
- All devices
- IF
Camera Notifications OFF
- IF
- Notification Switch (Plug)
- Turns off
- Notification Switch (Plug)
- DO
- All devices
- Turn off notifications
- All devices
- IF
I think this would probably be the simplest case using UNIVERSAL ACTIONS in your Wyze Automations, but obviously you could specify the scope more precisely with DEVICE ACTIONS in the DO sections of your Automations to apply effects only to specific devices (like maybe you want to turn off notifications for individual interior cameras but leave notifications on for exterior cameras). You can play with it and see what works best for you.
Like I’ve said, I like the Plug solution because it’s simple and solves some problems with my own Wyze/Google setup that isn’t otherwise possible with the native integration. For instance, I’ve been using one for the better part of a year to trigger actions in Google Home whenever my Wyze Video Doorbell v2 button is pressed because Google Home doesn’t (yet) have a way to detect a button press from that doorbell and use that as a Household Routine Starter, but it can detect a Plug turning on or off.
Incidentally, if you live near a Home Depot, they’re known to put Wyze products on unadvertised (in-store only) clearance at times, and I’ve read reports in the Forum of 2-packs of Plugs for $5 at times if you can find them. I went into a local Home Depot once last year to see if any of those were available but didn’t find them and instead found Plug Outdoors at the same price.
I don’t have any experience with that at all, but if I was considering that platform I’d probably do my own initial research and then ask @carverofchoice if I had specific questions, because I think he does a lot of stuff with Home Assistant. (He’s actually the guy who clued me into using Wyze Plug as a bridge to Google Home.) The stuff I’ve wanted to do (so far) has been simple enough that I’ve been able to base as much as possible in Google Home and then use Wyze or other third-party (Kasa, Tapo) app automations to fill in, but occasionally I get a little curious about things like Home Assistant and Hubitat. 
I hope this helps!