IMHO, one of the most effective way to stop ban evaders is to actually charge money for the game.
Cheaters are NOT price sensitive. This is their preferred form of entertainment, ie being a king in their little kiddie pool, so they don't care to spend $60 every month on a new account/gamekey/whatever you charge them.
People in CS:GO are perfectly happy to be banned with hundreds of dollars of skins in an account, because they either spent like $5 getting someone else's compromised account, or they are paying $30 a month to a cheat service anyway.
I bet there is a shit ton of overlap between frequent cheaters and pay-to-win whales.
The reliable way to make people cheat in your game less is cheater honeypots. Instead of banning and just starting the hunt for a cheater all over again when they buy a new account, you silently force them into matchmaking with only other cheaters, purposely abusive bots, or artificially harming the cheater's gameplay like with fake lag, or just ignore keypresses sometimes. Ruin their fun and they will stop ruining your game. Then you turn the adverse knowledge game on them, they have to figure out if they are regularly playing with cheaters or bots in order to know they need to buy a new account.