the larger bezels are needed in order to have square corners on the display.. using the one on the right as example-- if you moved the top bezel down, the corners will start getting cut away by the roundness of the frame's corners.
the fourth one in -- that has the fully round corners on the bottom part of the display and slightly rounded corners on the top part of the display.. (no square corners on any part of the display and differing roundness between the top&bottom)..
if you're open to accepting some roundness in the corners, there's a version not shown in the rendering which could be slightly taller (by the amount of the notch), rounded corners, and still have the full length/width dimensions of iPhone X except no notch.. this might be the version you would like best.
but yeah, when desiring to keep the display corners sharp 90º, you'll end up with tall bezels due to that requirement (unless, the frame of the phone had 90º corners too.. then you could put the display real close to all edges without rounding the corners)