Yes, wraps are death to most exhaust components. They hold tremendous heat in the part itself. They will fail even the best crafted piece.
Secondly, they also hold any moisture. If it gets wet, you have a nice little sponge holding steam water up against your metal pipe.
I have personally destroyed an entire exhaust system in less than two months with wrap. It was mild steel, but still. It would have lasted YEARS otherwise no doubt in my mind.
Or to put it another way, that was about 3 years ago......the unwrapped version is still on there doing fine
If it doesn't get that hot, it has room to expand/contract without much restriction, and it doesn't get wet often to hold water up against the piece, then the wrap will likely not do anything crazy.
Just don't wrap something that sees a lot of heat, or it will die.
Imagine running around in the summer naked. You're sweating your ass off, and still miserable, but you're okay (other than the snickers from the neibors). Now do the same thing with a fiberglass suit on........you will NOT be radiating any heat then. You would die faster than the exhaust, lol.