there are few retailers that sell high-end (expensive) products and common practice that, they hold the loyalty earn/redemption scheme during discount offers and campaigns. but this creates a mess when a customer buys discounted and non discounted products in the same transaction and due to the un-availability loyalty scheme at that time, it created a mess between retailer and customers so my suggestion is its a logical requirement which impact on customer relation and company P&L as well when they issue additional discount to those customers which already gain discount or loss for customer vice versa if the loyalty on hold in the same scensiro.
Currently, we are managing this function by adding an extension or custom path but it should be available in the OOTB feature because in my circle it is a common practice being followed by the customers.