FWIW, this appears to occur in D3D11 as well but not as noticeable. When I was playing the 3rd Harry Potter Movie (Prisoner of Azkaban), the scene where Harry is conjuring a Patronus, most of the display is a very bright white. There is a slightly less white square where the cursor is located.
I have played a few things in HDR using the metadata passthrough in D3D11 as described in this thread and this was the first instance where I noticed this. So it appears to be there as well but not as dramatic.
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