Here are some practical examples of using the color mapping with “don’t affect colors” to control the sampling of overbright areas. The scene is ultra simple - a very bright V-Ray sphere light, Adaptive DMC image sampler with 1/100 subdivs and color threshold 0.005.
Here are some timings for different color mapping settings and the respective VRaySamplingRate render element. For all images, the “Don’t affect colors” option was enabled so that we still get full HDR information in the resulting image.
The final RGB image (practically the same for all cases):

Linear color mapping, gamma 1.0, “don’t affect colors” enabled, render time: 21.3s

Exponential color mapping, gamma 1.0, “don’t affect colors” enabled, render time: 6.3s

Reinhard color mapping, burn 0.0, gamma 1.0, “don’t affect colors” enabled, render time: 4.5s

Linear color mapping, gamma 2.2, “don’t affect colors” enabled, render time: 6.1s

Exponential color mapping, gamma 2.2, “don’t affect colors” enabled, render time: 5.9s

Reinhard color mapping, burn 0.0, gamma 2.2, “don’t affect colors” enabled, render time: 4.9s

So as you can see, it can be quite an efficient way to adjust the sampling of HDR colors.
Note that while the color mapping “Type” controls the sampling of overbright colors, the gamma correction is necessary for sampling dark colors. You can change the gamma value further to control the dark colors sampling (larger gamma values will put more samples in the dark areas).
Best regards,
Vlado