Yes, it has a MBC in there only for overboost protection. It is run in parallel with the N75. Needed so that WOT boost doesn't spike to the moon. No amount of tuning will fix whatever is going on.
I disagree with you using the MBC for a over boost correction. Unless you have a T3-T4 turbo or a super 60 turbo you should have a large over boost issue. A Ko3 , Ko4 or even a hybrid EO5 turbo will not have over boost spike the N75 could handle. It sounds like you have a plumbing with the n75 issue or someone has tried to adjust the spring screw in it .
The other thing that can cause the over boost issue is the wastegate being adjusted incorrectly . Again you should not have a MBC for boost spiking.
Lee