I was originally mistaken in what is needed, see this reply:
Give us option to horizontal billboard particle systems instead of vertical billboard
Allow us to disable billboarding for particle systems so we can orient the particle systems in 3D space. Currently the XYZ rotation inputs of a particle system do absolutely nothing because of this forced billboarding. We need a checkbox on particle systems that says ‘Billboarding’ or something like that so we can disable it.
You want to create a circular particle aura effect using a circular color map like shown above, but if you aren’t in a topdown or 2D view, then you need to rotate the effect in XYZ for it to look more like an ellipse, the problem is playcanvas forces the color map to billboard. If you try to make the color map isometric to compensate for this, it will no longer spin correctly like a circle.