I agree absolutely that this should be easy to do from Edit, with masking abilities. I hope in future they start to leverage the Fusion integration further, as I am sure it would be possible to start bringing Fusion masks, and other tools, directly into Edit. It's already been done with Text+, to some extent at least.
Here's
two ways three ways to achieve this today, with not too much work:
Method 1: Fusion comp on an Adjustment Clip.Pros: Allows using any mask shape, including complex ones. Could use gradients or more complex surround colouring. Can then be extended in a myriad of other ways.
Cons: Requires going back and forth between Edit and Fusion, and might take a moment longer to set up than Method 2. Though it'll still only take a couple of minutes, and can then be copied between timelines.
1. Drag an Adjustment Clip to a layer above the layers you want surrounded
2. Right-click on it, and
Open In Fusion page.
3. Add a Background node, set to the appropriate colour or gradient.
4. With the Background node still selected, add a Rectangle node, which will auto connect the rectangle to the Background. Adjust the Rectangle mask in the Viewer, and in its Inspector choose
Invert Mask.
5. Drag the output of the Background node over the output of MediaIn1, which will automatically create a merge node, combining them and sending them to MediaOut1.
Your final composition should look like this:

And here's an example of what that looks like for me on the Edit page:

It would actually be possible to save this as a template, which could provide an effect which exposed the Background Colour and the Rectangle width/height/centre controls to Edit . That would allow you to drag it onto any Timeline and have it work immediately, and be fully controlled from Edit. It would basically operate like an OFX effect at that point. When I have some time I'll see if I can knock that up and link it here.
Speaking of OFX effects..
Method Two: OFX effect: Blanking Fill Pros: Can be done entirely on Edit
Cons: Can only do a basic rectangular frame. Might require Studio version? Not sure on that.
So if you literally just need a coloured rectangular surround of arbitrary size, instead of going to Fusion you could just use the Blanking Fill OFX effect:


The downside of this method is that you are limited to filling in a rectangular shape from the edges; it couldn't ever create a circular cut-out, for example. But in your example of a 'simple rectangular frame', it works fine, and is fully managed from Edit.