Hello Rick, thank you for the reply! GoPro Studio was discontinued. After a longish search I found an installation file on the internet which I will try out later. However, I'm not so sure whether this software is able to remove the distortions of the hero7 black, since GoPro Studio was discontinued way before the hero7 was released. I will give it a try though. Regarding the workflow: Image stabilization should always be applied after lens correction. Otherwise one will see moving distortions while the footage is actually stable. These moving distortions cannot be removed by a static lens profile. So lens corrections after image stabilization are useless. At least that's how I understand it. I'm glad that you mention a test grid. I had exactly that idea. But which effect should I use to straighten a reference grid? There is a tool called "Adobe Lens Profile Creator". Apparently is can compute a lens profile for an arbitrary lens by analyzing some frames with check board patterns. Can I use these profiles in AE?
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