Under certain circumstances, VSE reports the path of a scan item by its physical address rather than its logical address.
Example: \Device\HardDiskVolume1\Windows\File1.txt rather than C:\Windows\File1.txt
An exclusion using the logical address might not be effective if Windows references an object using its physical address.
If you set an exclusion for File1.txt to avoid a performance issue resulting in timeouts (reported in the On-Access Scan log), you would generally exclude C:\Windows\File1.txt. But, you might later find the exclusion is not effective and timeouts still occur. Viewing the On-Access Scan shows timeouts occurring on physical address: \Device\HardDiskVolume1\Windows\File1.txt.