I did not use 3ds Max 2014 are not faced with such a problem.
But here is a note « of Gamma 1.0 for output in the Max 2014 ," maybe it's exactly what you need😉
Several days ago, I switched to a new 3ds Max (from 2008 to 2015) and faced myself with the same changes in its settings. However, everything is simple. The early versions of 3ds Max had Input Gamma 1.0 and Output Gamma 1.0, in other words the default 3ds Max gammas was not corrected by default.
To force the old versions of 3ds Max operate in Gamma 2.2 it was necessary to set up 3ds Max accept all incoming textures as the Gamma 2.2 textures (Input Gamma). Otherwise, the 3ds Max was "thought" that all incoming textures is in gamma 1.0. In addition, to force render to work and generate images in gamma 2.0 (Output Gamma), it was necessary to adjust V–Ray Gamma parameter in Color Mapping section.
In the newer versions of 3ds Max, the Input and Output Gamma is ALREADY 2.2, so corresponding setups is literally absent in «Gamma and LUT» section.
Applying the classical approach in the newer versions of 3ds Max, namely adjusting the «Output Gamma» in V-Ray Color Mapping – we will got overexposed images on the render output, that’s will happen because it would be applied excessive unnecessary correction (in V-Ray Color Mapping) to already corrected (in 3ds Max) Output Gamma.
Total: all we need to do in 3ds Max 2014 and higher, it is to turned off superfluous Output Gamma correction in V-Ray Color Mapping by choosing Color mapping only (no gamma) option in Mode: dropdown list.
All the rest, as before 😉
In fact, here's what we managed to deduct:"There are two situations:1.) When Gamma Bakes. 2.) When Gamma is not baked and you are working on sRGB preview.In V-Ray (up to 3.0 versions) and up to 3Ds Max 2014, preference was given to - Gamma Baking.3Ds Max 2013 + V-Ray 2.4:SRGB to VFB - Default is disabled. Output Gamma - 1.0 for all formats.3Ds Max 2014 + V-Ray 3.0:SRGB in VFB - Default is enabled. Output Gamma - Automatic (2.2 for 8Bit / 1.0 for 16, 32Bit).Actually, that's all the differences that confuse people. What was this done for? - For convenience of work in LWF (Linear space). So, as most Profi did not bake the gamut, they decided to make these default settings.When baking Gamma in 3.0 Virey:SRGB - Disconnect. In Color Mapping, set - Color Mapping and Gamma.When working in a linear space:SRGB - Turn on. In Color Mapping, set either None or Color Mapping Only. Turn off Clamp Output, or increase its value to the required level. You get additional exposure control in VFB. You can save the result in 32Bit formats HDR / RAW / OpenEXR / TIFF-32Bit.Which option to choose?Bake Gammu - When working exclusively with 8Bit formats (JPEG / TGA / PNG / BMP and so on). And do not use the VFB (Exposure / Curves / Levels) capabilities. So, you limit the following possibilities in post-processing. The only advantage that you get is a more predictable work of the sampler in bright areas and the ability to use AA filters in V-Ray.Do not bake a gamut or Work in LWF (Linear Workflow) - When you want to use all the features of VFB, and all formats. Yes, you can save the result in 8Bit and 32Bit in this scenario. Thus AA-Filters start to work not-adequately. But who uses them? - Today it is not fashionable.[IMPORTANT - Do not confuse pixel depth with data bit depth. After all, these are different things. TGA can save in 32Bit, but it will be EXACTLY not that OpenEXR 32Bit. In short, I mean the data that is written to each pixel. 8Bit - 1-255 / 16Bit - 1-65535 / 32Bit - 0 to Infinity / 32Bit-Float - 0.0 to Infinity (floating point).]P.S. If you twisted the Output Gamma script, the result of the output would be buggy. By default, 2014 Max itself determines which gamma to choose when Input-e and Output-e. 8Bit formats save in 2.2 Gamme and 16 / 32Bit in 1.0 Gamme. That is, by default in 2014 Max you save JPEG with gamma 2.2 and in some thread TIFF / OpenEXR / HDR / RAW with gamma 1.0. "I do not use the script myself, I keep it as it should.