This may have been a fluke (and probably is a repost, but I couldn’t find it), but it worked pretty well the 2 times I tried it.
If you get into a bad scrape with some monsters and need to bail, target a point in the distance to run to. Then on your action list, click "sit". Now pull up the "Exit Game" menu. Wait on the OK/Cancel screen until your character starts to sit down. While they’re in the process of sitting, you’re technically not fighting, so hit the "OK" button to log out.
Go play your alt for a while until someone else has killed the monster or it wanders off.