Yes, depending on the size of the excluded hosts/networks it may cause a change in behavior for the size of the subnets proposed in IKE Phase 2, particularly when hosts (/32) are excluded. When exclusions are used, the VPN domain is recalculated into multiple networks/subnets to exclude the desired addresses. You can use tools like Danny Jung's VPN Domain One-liner to see this in action:
https://community.checkpoint.com/t5/Enterprise-Appliances-and-Gaia/One-liner-to-show-VPN-topology-on...
Gaia 4.18 (R82) Immersion Tips, Tricks, & Best Practices Video Course
Now Available at https://shadowpeak.com/gaia4-18-immersion-course