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any progress?

still actual. My main version is 4.9, but also checked in examples sandbox of v5x - same.
It seems like for X axis it calculates bottom space, and for Y left one. So when X labels go out of X axis dimension - not included in calculation.

import { graphic } from 'echarts/lib/export';
import { estimateLabelUnionRect, makeLabelFormatter } from 'echarts/lib/coord/axisHelper';

rotateTextRect(textRect, rotate) {
    const rotateRadians = rotate * Math.PI / 180;
    const boundingBox = textRect.plain();
    const beforeWidth = boundingBox.width;
    const beforeHeight = boundingBox.height;
    const afterWidth = beforeWidth * Math.cos(rotateRadians) + beforeHeight * Math.sin(rotateRadians);
    const afterHeight = beforeWidth * Math.sin(rotateRadians) + beforeHeight * Math.cos(rotateRadians);

    return new graphic.BoundingRect(boundingBox.x, boundingBox.y, afterWidth, afterHeight);
}

function reFit(chart, ret = false) {
    const model = chart.getModel();
    const x = model.getComponent('xAxis');
    const y = model.getComponent('yAxis');
    if(x === undefined){
        return;
    }
    const xAxis = x.axis;
    const yAxis = y.axis;
    const gridModel = model.getComponent('grid');

    if(!gridModel || (!gridModel.option.containLabel && !ret)){
        return;
    }

    const yLabelUnionRect = estimateLabelUnionRect(yAxis);
    const yWidth = yLabelUnionRect ? yLabelUnionRect.width : 0;

    const axisLabelModel = xAxis.getLabelModel();
    const labelFormatter = makeLabelFormatter(xAxis);

    const xAxisTickes = x.axis.getTicksCoords();
    const xAxisRealTickes = x.axis.scale.getTicks();
    const firstRealTick = xAxisRealTickes[x.option.inverse ? xAxisRealTickes.length - 1 : 0];
    const firstTick = xAxisTickes.find(t => t.tickValue === firstRealTick);
    const label = labelFormatter(firstTick.tickValue);
    const unrotatedSingleRect = axisLabelModel.getTextRect(label);
    const singleRect = rotateTextRect(unrotatedSingleRect, axisLabelModel.get('rotate') || 0);
    const needToFit = singleRect.width - firstTick.coord;
    const ySpace = Math.max(needToFit - yWidth, yWidth);
    if(ret){
        return ySpace;
    }
    chart.setOption({
        grid: {
            left: ySpace
        }
    })
}

This is my adhoc solution.

Any progress?