The issue of address wraparound with MVCL has always been more theoretical than real.
In practice, it was not possible with non-virtual memory System/370 machines. None of them had anything close to 16 meg real storage, so any attempt to invoke address wraparound with MVCL on those machines would most likely terminate with the long forgotten S0C5 ABEND.
I don't recall for sure, but I believe even OS/VS2 Rel 1 defined virtual storage up to 16 meg, so, at least in theory, you could do address wraparound with that system.
I think early MVS systems defined storage the same way.
The virtual storage restructure with MVS/XA had the nucleus straddling the 16 meg virtual storage line. I think the same storage map is still in use with z/OS, so you should be able to do MVCL wrap around in the 24-bit address mode in both MVS/XA and later MVS releases, as well as z/OS.
IEAV9CM2 FFFFB0 50 24 ANY R/O IEAVCMS2 FFFFC8 18
IEAVCMS1 FFFFCC 1C
IEAVCMR3 FFFFD0 20
IEAVCMR1 FFFFD4 24
IEAVCMR4 FFFFD8 28
IEAVCMR2 FFFFDC 2C
IEAVCMST FFFFE0 30
IEAVCMSB FFFFE4 34
IECVXURS 1000000 F0 31 31 R/O
Part of a nucleus map of a z/OS nucleus
I don't know if MVS/XA defined virtual storage up to 2 gig, so it may not be possible to do address wraparound in the 31-bit addressing mode in MVS/XA and later MVS systems, or with z/OS.
Similarly, I don't know if z/OS defines virtual storage up to the end og 64-bit virtual memory, so I don't know if address wrap around is possible in 64-bit addressing mode.