For those that don't visit London often, the standard Oyster card can be redeemed, including the deposit. When I was there in 2019, I purchased an Oyster Card at King's Cross station (I had just arrived by train from Edinburgh), and used it for all of my travel all the way to Heathrow, where I redeemed the card for the balance as well as the card deposit, on my way into the airport.
For a Visitor Oyster Card the £5 you pay for the card is not refunded, although you can get any balance on the card refunded.