Hello ManishSahu,
You can draw polygon shape in Model or Ortho view mode.
If you wish to export the DEM/Orthomosaic only inside the area defined by the polygon (or polygons) you need to switch to the Ortho view mode, select the desired shape, right click on it and choose Set Boundary -> Outer Boundary option. Boundaries would be automatically applied to DEM/Orthomosaic export.