Chris,
This is a great question. It should probably be moved to the 3D space since Community Help is mainly for help with the GeoNet.
I am not sure how to pre-clip the raster output. I normally would just clip afterwards so I am curious to hear what others say. I normally go the route of LAS Dataset to a TIN network and from there I use the delineate TIN tool to get rid of the excess. However, I do not think that there is a similar tool for Rasters.
Thank you, I've moved it to 3D!
It may have something to do with the 'Void Fill' settings in the tool? If so, which setting would fix this?
Or maybe this from ESRI's LAS Dataset to Raster tool help: "Including a study area boundary as a clip constraint in the definition of the input LAS dataset is highly recommended. One reason is to prevent interpolation from occurring outside the real data extent of the survey." If it's this, how do I make a clip constraint in the LAS Dataset?
From here Tile LAS—Help | ArcGIS for Desktop it says to use
The Create Fishnet and Generate Tessellation can be used to create tiled polygons that cover the extent of the desired region.