But, I feel that interacting with a dedicated/isolated 120V metering compartment is not the same as interacting with other parts of the equipment. For example, in a two high section of MV switchgear where the bottom cubicle is a breaker and the top one is dedicated to metering, the 120V metering compartment could have a HRC=0 (it is fed by a transformer <125KVA) while the breaker cubicle could have a different one. This would not be the case however in equipment, like a switchboard, where the metering is barriered but not isolated.
The important thing is the existence of an Electrical Safe Work Practice program, that deals with these issues and procedures, not simply the presence of an 'arc flash' sticker.
