I need to draw this image with CSS only:

I have achieved this:

The problem is removing the box shadow on that particular place. I've tried to cut the circle with a clip-path, but the box shadow still appears.
.box {
width: 50%;
min-height: 100px;
box-shadow: 0 0 0.125rem 0 hsla(0, 0%, 0%, 0.4);
position: relative;
border-radius: 10px;
z-index: 0;
padding: 12px;
margin-bottom: 4px;
}
.box::before {
content: '';
position: absolute;
width: 20px;
height: 10px;
border-radius: 50%;
box-shadow: 0 0 0.125rem 0 hsla(0, 0%, 0%, 0.4);
transform: translateX(-50%);
background-color: white;
border-bottom-left-radius: 110px;
border-bottom-right-radius: 110px;
border-top: 0;
clip-path: inset(0px -10px -10px -10px);
}
.box::after {
content: '';
position: absolute;
width: 20px;
height: 10px;
box-shadow: 0 0 0.125rem 0 hsla(0, 0%, 0%, 0.4); /* Your desired box shadow */
transform: translateX(-50%);
background-color: white;
border-top-left-radius: 110px;
border-top-right-radius: 110px;
border-bottom: 0;
clip-path: inset(0px -10px -10px -10px);
}
.box::before {
top: -1.1px;
left: 50%;
}
.box::after {
bottom: -1px;
left: 50%;
}
<div class="box">
Content
</div>
Fiddle: https://jsfiddle.net/pL9n8g2u/
Thanks in advance
Use radial-gradient combined with drop-shadow filter: