Personally I would disable system restore, reboot, do a scan and if everything is clean, enable system restore. A new restore point will be created when you enable system restore again, so it should be a problem.
If you leave something in system restore that is infected (and you wouldn't know if you exclude this location), when you have to use system restore in the future you could well be restoring a virus infection that could bite you in the a*s some time in the future.
Many viruses locate themselves in the system folders, because they are protected by windows and system restore, so when you delete it a copy is saved in system restore, that is why many AVs tell you to disable system restore if the infection is in a system folder. So for me excluding the System Volume Information folder could leave you vulnerable in the future.
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