Thanks Andrew & thnord. I tried adjusting it in the Modify - Interpret Footage, and nothing seemed to change. But you mentioning that the background shouldn't be red made me wonder as well, so I went back to my original AE project, realized that the background of the composition I was using was set to Red, I changed it to Black and after re-exporting the ProRes 4444+, it seems to be working. Not entirely sure why that changed with an update, but regardless thanks so much for the help!
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