Paste on VRMs don't increase temps when properly used. While you see the increase of temps with chips when you add too much, MOSFETs don't have even surfaces and you get better heat transfer with a tiny bit of TIM, just enough to let the pad stick to it.
While GPUs are pretty straight forward to mount, many motherboard blocks which cool both VRMs and chips are not. TIM goes a long way when holding pads into place as the chip screws are always screwed down first, with the rest to follow evenly. This is different to GPU's in the way that on most motherboard full cover blocks, the chip is not centered, so once you screw the chip screws down, the VRMs do not always end up with great coverage and slipping thermal pads are common (the CHVF-Z to name one of the most annoying vrm+chip blocks).
To be honest there isn't any realistic downside to putting TIM on MOSFETS. If you find the VRM temps have gone up, then you probably have used about half a tube of TIM, since the VRMs dont produce enough heat to make even a bit too much TIM an issue or even measurable using temp monitoring software. While the upside of using it is keeping the pad in place, which doesn't sound like much.... till you feel the need to break down your loop and make sure the thermal pad hasn't slipped during the mount.