"I think you're actually better off on a bike because you're higher up"
That's what I think.
I also think/thought that you were (mostly) better off cycling than driving in traffic due to relative positioning of air intakes and exhaust pipes in front.
But
I recently saw a BBC news piece with a reporter walking/cycling/driving around London with various monitors attached.
That showed better figures in the car 'due to effective filters'.
That may be the case for certain/newer cars, but don't know how 'universal'.
But yes, air pollution is a problem that needs campaigning against.