I could see 2 different configuration location “HKEY_LOCAL_MACHINE\SOFTWARE\McAfee\VSCore\On Access Scanner\McShield\Configuration\Default” and “HKEY_LOCAL_MACHINE\SOFTWARE\(Wow6432Node)\McAfee\SystemCore\VSCore\On Access Scanner\McShield\Configuration\Default“.
Which one should be used? How this will work for the 32bit and 64bit machine/OS?
None. Please don't attempt to alter registry keys as the software will surely malfunction. The home software has no exclusion list except for items identified as PUP's (Possibly Unwanted Programs) then you tell the software to ignore it. A general exclusion list is something that we Moderators have been begging them to reintroduce since they took it away about 7 years ago.