If you want to use the ancient LUT, it's fully available to do. Select one or more clips in the bin, right-click/Modify/Interpret Color ... and apply that as an Input LUT. Now probably set the Sequence CM to "direct Rec.709" and that should be it. Ta-da, done. However ... that LUT is expressly designed for a Rec.709 workflow, from their website information. So that's why I said use the Direct Rec.709 option. That LUT maps the values within the Rec.709 possible values. In fact, it both rolls highlights and lifts shadows ... tonal mods ... while de-saturating a bit ... chroma mods. With the idea that the user then can push the media out as far tonally and chroma as they wish. At that point, there is no use in using the ACEScct working space as you've already narrowed the media down to well within sRGB. Using their wide gamut workflow, the clips would be seen as Sony log by Premiere, you can set the ACEScct working space, and it will use algorithms ... not a simple LUT, but so much safer for your pixels ... to remap to the ACEScct working space, keeping all of the original data intact ... and if you then set the Sequence Output color space to Rec.709, you see in the monitor the image prepped for Rec.709 export. So it's mapped to ACEScct via mathematical algorithm built with Sony participation, designed to keep all data ... you apply color corrections in the ACEScct space, and the data is then remapped to Rec.709 so you see the proper output view. LUTs can clip or crush if your field produced media isn't very close to the media exposure/contrast the LUT was built for. Algorithms by design cannot do that. They are complex mathematical formulas, and Adobe works with the camera makers to build specific algos for their cameras. Yes, the initial look is different ... but there isn't any "perfect" LUT, as all exact mathematical transforms are completely backside-ugly wihout aesthetic choices in building the LUT. And the same is involved in designing algos ... technical and aesthetic considerations must both be involved. The algos do give a solid base for modifying the image ... and if you like the specific look of that LUT, it is certainly possible to fairly quickly rebuild that in Lumetri and either save as a LUT or preset, and then apply that to a bin of clips. Certainly there's no reason to do that clip by clip!
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