Unfortunately, it is not possible to whitelist channels so that the monetization policy does not apply to them. The reason is that the channel will then be whitelisted for all releases distributed through MusicHub. We understand that this is not ideal, but unfortunately there is no way around it.
With that in mind, we ask that you consider this before selecting the YouTube Content ID for distribution. If you reverse the decision after the release has the status "Approved", your release may have to be taken down from the streaming services and completely restarted, this time without Content ID.