With negative film, there are essentially three ways in which highlight detail is lost (although they can be interrelated). (1) They are exposed beyond the exposure scale of the film, (2) They are beyond the film’s maximum density, (3) They are within both the exposure scale and density scale, but have no contrast (ie no detail).
Well, yes... it has to be admited that HP5+ (and usually all high speed film) has impressive highlight latitude, as we expose 400 speed two stops less than 100 speed then the minuscle crystals (that are there in both cases) usually provide 2 stops more latitude in the 400 case...
Other films (Foma 100, for example) has the shoulder way closer to the nominal exposure, to not mention CMS 20...
Of course we can totally abuse films like TMY or TMX... with extreme highlight llinearity and latitude...
Still we should consider how exposure will end in drawbacks when printing (in the darkroom), the higher density ends in longer exposure times, and very dense areas fall more in LIRF. Of course this is not a concern is scanning.
A not contrasty scene allows a lot of overexposure (specially with high speed film), here we have an example with TX:
http://canadianfilmlab.com/2016/04/03/black-white-film-exposure-test-comparisons-kodak-tri-x-400/
While we get an image a +3 overexposure will deliver a different grain (developments in that test?):
Nominal vs +3 , enlarge to see the grain !!!
IMO film crystal formulation has been adjusted to deliver it's "most" wanted signature around Nominal exposure, IMO, but at the end it's about taste.
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IMO, of course one stop overexposure in HP5+ can be developed nominally...
But reducing contrast with a shorter development after overexposing may also be a sound strategy, at the end is what we (or many) routinely do in LF, or what it was instructed by ZS... anyway today we have different materials allowing other interpretations of the ZS recipes.
Will a lower negative contrast harm ? We get the same print because we compensate the lower contrast with higher paper contrast grade, say we go from grade 2 to grade 3, and then we have an aditional contrast grade difference to burn with 00 the highlights, we had a 2 to 00 difference and know we have 3 to 00. So to burn highlights we have two powerful toos: less LIRF and a higher highlight compressión when burning. Still if we fairly overexpose film highlights then we may compress them more in the negative shoulder, a pulled development will displace the shoulder to the right so will drop the highlight compression we may desire.
A well known "portraiture guru level" hack was shooting TXP 320 at EI 80 (!) and later pulling development to 5min (HC-110, ? Dil. B)...
IMO nailing the tonality we want, shadow detail, grain depiction and glare texture is a complex art I don't totally understand, but no doubt film/processing/paper are very flexible tools allowing a true master many ways to craft impressive works. I feel there is not a single way... but the more we understand the medium nature the more open doors we have.