Smarttube is a 3rd party free app with loads of customization available on android based smart televisions that completely bypasses advertisements as well as in video sponsorships. It also comes with a screen dimmer & sleep timer for those who fall asleep watching videos.
Alternatively, watching in the Duckduckgo mobile app browser instead of the native Youtube app bypasses ads as well.
Update: Commenter mentions that Brave browser also does this in addition to being able to play videos in the background!
Why YSK: This world would broadcast commercials on the insides of your eyelids if given the chance.