ahalpert
Major Contributor
On the R6 (and presumably others) you can see the right of the histogram get crunched more and more to the left as you lower ISO below 400 while in C-log. You can also see it on the waveform scopes of the cinema line (the top getting chainsawed off below ISO 800 or 850).
I think this happens on all cameras. As you go below base ISO, your dynamic range is increasingly allocated to the shadows. So, your exposure will come down but your highlights will still be blown out. If my highlights on my Sony cameras are blowing out at base ISO, then lowering the ISO will not bring them back.