What's the reason that you can't use this ring for exercise? It feels like such an obvious feature to include so there must be some technical reason?
They do still track general intensity of activity though, which for general health is probably a more relevant metric than exact heart rate.
Activity tracking is based on accelerometer data.
I've had many instances where my Oura failed to track heart rate while I was asleep, if the ring rotates, slides to a thinner part of my finger, or I am moving a little too much.