Gamma bleeding and banding when low light baked in VR scene

Reproduction steps:

1. Open user attached project "VRColors.zip"
2. Enter Play mode
3. Press R key

Expected result: Smooth transition and no gamma bleeding
Actual result: Gamma bleeding and banding

Reproduced with: 2020.3.44f1, 2021.3.17f1, 2022.2.5f1, 2023.1.0b2

Reproducible on: Windows 11