Visual Clipping Plane Object/Tool

It would be super useful to be able to visual clip objects so that you can make it e.g. so they won’t show through walls.

For example, I wish to be able to have this rug here but I don’t want it to peek outside the room.
Garry’s Mod has this feature available and there is an open source addon that uses it

I think the most intuitive way for this to work is an object that shows a plane gizmo and has a list of objects to clip, and optimally multiple clip planes can be supported for one object but not required.