Here's a photo showing a side view with the trim ring removed.
What you're now able to see is that there will be quite a gap between the soffit and the base, except for the three small points of contact on the base where screws will be holding the camera base tight against the soffit.
So, the question is: how best to seal this? If this were a "once-and-done" installation that would last for decades, I'd probably reach for silicon caulk, or similar, to seal the gap. However, there's no telling how long it will last. In fact, the reason why I'm sprinting to install it now is to see whether it will survive the summer heat, because if it does, I'll probably get and install more. My WAG is that it may last 3-5 years, but it may be far less than that.
Therefore, before even putting it up, I'm already thinking ahead to when I'll be taking it down for replacement. When that day comes, as it surely will, I'd rather not be standing on a ladder 20 feet off the ground, cutting through silicon and eventually scraping it off prior to the next install. Instead of that, what I'd much rather do is to fabricate a gasket of just the right thickness that will completely fill the gaps when when the 3 support screws are torqued down. The gasket will be hidden by the trim ring, which would be installed afterward.
Has anyone here done this? Also, what are good sources of sheet gasket material for this type of application?