Creating a 2D light shader that clamps value to avoid over-exposure

Godot Version

4.3

Question

Has anyone successfully implemented a lighting shader to avoid over-exposure scenarios?

I have seen past posts like this:

https://www.reddit.com/r/godot/comments/xsrry0/how_to_solve_the_light2d_exposure_problem_when/

https://www.reddit.com/r/godot/comments/1g7nznw/is_there_a_way_to_clamp_3d_lighting_to_a_maximum/

However even following the docs (CanvasItem shaders — Godot Engine (stable) documentation in English)

I have been unable to write a shader to avoid scenarios like this.

ie:

Anyone have tips on how to clamp the lighting properly?