These kinds of formats have been somewhat explored by camera makers for their raw formats. Since the computing resources in the cameras can be quite limited there are a few formats that try to occupy this space of simplicity with still some tricks for compression. Samsung's various SRW encodings remind me most of this: https://github.com/pedrocr/rawloader/blob/a59bb78d156277781a...
[1] Perception is pretty logarithmic as usual, so for a 14-bit readout, half the values represent the brightest stop and a little bit, the other half holds the other 12+ stops.