This behavior has been noticed several times before but no one from Kemper bothered to clarify this.
It seems like the cabinet is actually the last sound forming unit in the effect chain. This makes sense as you otherwise would need to process the entire post effect section twice, one time for the dry monitor out and one time for the main out with cab sim.
So the signal is split after the reverb and before the cab to go to the looper. This means that the looped sound has no cab sim applied to it. When it gets back from the looper then it's fed through the current(!) cab sim and copied to both the main and monitor out. This seems to be true for the Monitor Cab Off / Main Cab On configuration. The normal configuration seems to work differently.
At least that's my observation.
This is not as easy as it sounds. To get it right you would need two loopers in parallel. One records the signal with the cab sims of the rigs and sends the result to the main out and the other one records the signal without the cab sim to send it to the monitor out. This requires a lot of precious memory so the the KPA's current behavior is a compromise. But that only affects the monitor sound so it is tolerable.