keyboard shortcuts – Visual Studio Code on ctrl + L gives ^L but should clear terminal (I think)

I’ve searched and found many answers – some claiming that clearing terminal with shortcut (ctrl+L or ctrl+K) is impossible, some that it is advised, answers differed based on OS (Linux vs Windows vs unmentioned). So, what is the situation in 2023?

Btw, my OS is Windows 7 and I cannot upgrade VSC any higher.

EDIT (“Help: About” as text)

Version: 1.70.3 (system setup)
Commit: a21a160d630530476218b85db95b0fd2a8cd1230
Date: 2022-08-31T08:03:55.990Z
Electron: 18.3.5
Chromium: 100.0.4896.160
Node.js: 16.13.2
V8: 10.0.139.17-electron.0
OS: Windows_NT x64 6.1.7601