Not sure if that is true or not but no trackers are able to get out of phone so don’t know if that is an issue?
I mean what is copied stays on the phone.
Being accessible is just what a clipboard needs to be …
Interesting question though.
I have simple clipboard editor installed and there’s no permissions (zero) to be granted for it and it simply works.
I guess access cannot be denied w/o a specific permission available…
Edit: the abovementioned app allows for manual clearance of the clipboard.
I understand this is not the exact function that you are looking for but maybe MemoryGuardian app is of interest for you.
You can use XPrivacyLua (up to Android 12) or it’s successor XPL EX (Github, from Android 13) to set up a per app permission to either be able to read OR write the clipboard. You should be rooted, of course.
Now that my phone is on S I just found that option to be notified in case an app accesses clipboard content:
system settings → data protection
(seems to be ON by default)