I understand the concern that losing in the SECCG would knock us out of the playoffs, but I do believe most of that fear is based on how the committee picked a 4 team playoff field, and not a 12 team field. In a 4 team field, a conference championship game should be an elimination game, and it has been, with the exception being 2021. In a 12 team field, the loser should not be punished, and I don't think the committee will punish them.
What I can see them doing, and I don't consider this punishment, is if the team that loses the SECCG was ranked behind other two loss SEC teams going into the game and they don't get in. For instance, let's assume UT loses to UGA and has two losses at the end of the year, is ranked behind Alabama and Georgia heading into the SECCG but wins the tie-breaker to play in the SECCG, and then loses the SECCG to Texas. The committee then leaves them out of the playoff but includes Alabama and Georgia. I wouldn't see that as punishment to UT, because the committee going into that game ranked Alabama and Georgia higher. Conversely, if UT were to beat Texas in the SECCG, then neither Texas or UT should be bumped out of the playoff if they were higher rated going into the game than the other two loss SEC teams.