settings files.watcherExclude not working?

### Is there an existing issue for this?

- [x] I have searched the existing issues

### OS/Web Information

- Web Browser: latest Chrome
- Local OS: Windows
- Remote OS: RHEL 9
- Remote Architecture: x86_64
- `code-server --version`: 4.104.2 b0992ddb3e3b398371da6bcfbe21a70b4d66eb8d with Code 1.104.2

### Steps to Reproduce

Our main project folder contains subfolders that make use of autofs + rclone. We do not want code-server attempting to traverse the MANY remote endpoints configured. The solution should be to use VS Code settings `files.watcherExclude` as implemented from https://github.com/microsoft/vscode/issues/150174

I have this setting in both the FOLDER (/files) and Workspace settings, but it appears to be ignored. Or is there another place to best handle this override?

```json
{
"files.watcherExclude": {
"**/**": true,
"**": true,
"*": true
}
}
```

That should effectively disable files watching completely. Optimally, I would like to use targeted filtering instead (_which also does not have any effect_) of globally excluding:

```json
{
"files.watcherExclude": {
"/*files/cifs/**": true,
"/*files/nfs/**": true,
"/*files/s3/**": true,
"/*files/sftp/**": true
}
}
```

### Expected

When I do `df`, I should not see any remote filesystems mounted.

### Actual

As soon as I open the project workspace, it begins to crawl through all of the folders, which in turn, begins to mount every endpoint to do more crawling -- ugh!!

### Logs

```shell

```

### Screenshot/Video

_No response_

### Does this bug reproduce in native VS Code?

Yes, this is also broken in native VS Code

### Does this bug reproduce in GitHub Codespaces?

Yes, this is also broken in GitHub Codespaces

### Are you accessing code-server over a secure context?

- [ ] I am using a secure context.

### Notes

_No response_