During the festival of the lost which forces you to wear the event mask/helmet to earn candy, it also has the effect of overriding the hood on all class item capes to make the mask fully visible (and to stop clipping issues on the bigger masks i assume).
If the functionality already exists to hide the hood on every class item when very specific helmets are equipped (Thy Fearful Symmetry, from the 30th anniversary pack being another for example), then why isn't there the option to disable the hood for any helmet, just like you can toggle whether you're helmet is on when you're at the tower or in a cutscene.
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I sometimes use the original hood which has no cape at all. That way you can see the back of nice looking chest and leg armor. Other than that there is only one cloak that has no hood that I'm aware of and it shows off whatever helmet you're wearing. Tried looking at collections for the names, but it just shows Titan stuff even when it says it's Hunter.