You can buy what is called a plywood bit, that is basically an undersized bit. Works pretty good (I've got one). Even with that though the variations can be off a tad. I take a differnt tack. I'll make a standard size dado and cut the ply down to fit the groove its fast its easy and the lip on the ply gives regidity. I've got a good forrest dado stack set with magnetic shims I hardly use any more.
For Melamine and veneered boards a down cut spiral bit would be favourite, but Festool (according to the guide I have do not make one over 1/2")
for straight cutters I would make two passes, one to just clear the melamine then next to depth. The only caveat is of course the quality of the melamine and substrate.
Just for future reference, the more information given with an initial question will produce more accurate/ job specific answers, there is literally a world of experience among the members on FOG. [smile]