If Latency Sensitivity is correctly configured to High, absence of exclusive affinity can be explained by over-committed cores in the host or NUMA node.
For exclusive affinity to work, the ESXi host needs to be able to reserve a full core (not PCPU / Thread when HT is enabled) for each of the VM's vCPUs while respecting other host reservations. For example, on an ESXi host with 16 cores, the maximum number of vCPUs for a VM that has to run with exclusive affinity is 13 (n-3). This is a result of the system and vim pool reservations which depending on the host size and 3rd party plugins will reserve, not necessarily use, between 2-3 cores.