A big reason HDR is getting a push now is because banding becomes much more obvious on 4K displays. A wider color gamut helps to prevent that.
Wide color gamut has nothing to do with reducing banding. 10- or 12-bit color channel resolution makes a big difference on that front. If anything, the increased peak brightness of HDR and improved purity of RGB primary colors at the root of wide gamut color make banding problems worse and the finer resolution even more of a necessity.