Exposure determines where the values fall on the characteristic curve. Development alters total and local contrast (ie the shape and slope(s) of the curve). So minus development compresses contrast. It does NOT move the exposure range down the curve.
Therefore in a case where you don't need to reduce contrast, if you are going to reduce development, do it because you want to slightly offset any increased graininess associated with overexposure. Other than that it will not improve anything. All it can do is decrease local contrast, particularly in the highlights, which is exactly what you indicated you didn't want. In other words, all reduced development can do is reduce the slope (ie contrast) of the straight line, and also shorten it.
N-1 is a pretty mild contraction, but I'd still say develop normally. From the perspective of sensitometry, you can't correct for overexposure with reduced development.