You can coat metal with a lot of things that will give it the correct reflective properties.... Also the bsi "
Specification for retroreflecting numberplates" states "
Retroreflecting number plates can be manufactured from any material which performs satisfactorily in
service, providing the requirements of this British Standard are met."
You can but read the words. It must be made from. Not coated in.
I see no difference with assembling a reflective coating with some acrylic to spraying reflective stuff on a metal plate...