Oh man, don't get me started. This was a point in a talk I gave years ago called "Please Please Help the Compiler" (what I thought was a clever cut at the conventional wisdom at the time of "Don't Try to Help the Compiler")
I work on MSVC backend. I argued pretty strenuously at the time that noexcept was costly and being marketed incorrectly. Perhaps the costs are worth it, but none the less there is a cost
The reason is simple: there is a guarantee here that noexcept functions don't throw. std::terminate has to be called. That has to be implemented. There is some cost to that - conceptually every noexcept function (or worse, every call to a noexcept function) is surrounded by a giant try/catch(...) block.
Yes there are optimizations here. But it's still not free
Less obvious; how does inlining work? What happens if you inline a noexcept function into a function that allows exceptions? Do we now have "regions" of noexceptness inside that function (answer: yes). How do you implement that? Again, this is implementable, but this is even harder than the whole function case, and a naive/early implementation might prohibit inlining across degrees of noexcept-ness to be correct/as-if. And guess what, this is what early versions of MSVC did, and this was our biggest problem: a problem which grew release after release as noexcept permeated the standard library.
Anyway. My point is, we need more backend compiler engineers on WG21 and not just front end, library, and language lawyer guys.
I argued then that if instead noexcept violations were undefined, we could ignore all this, and instead just treat it as the pure optimization it was being marketed as (ie, help prove a region can't throw, so we can elide entire try/catch blocks etc). The reaction to my suggestion was not positive.