P: Lightroom Classic: Editing raw file in PS from LR loses profile

What do you have set for Color Settings in Photoshop with respect to RGB Working Space and Policies? 

In LRClassic 2020, when i "edit in Photoshop" any R5 files with a Color Fidelity Profile, the colors are incorrect and desaturated in Photoshop. If however I export to hard drive first, the file is correctly exported and the colors are also correct. It's almost as if no profile is applied if i "edit in Photoshop"

This is a known issue, discussed elsewhere in this forum. A workround is to open the image as a smart object in Photoshop. Then double-click the smart object to start Camera Raw and toggle the profile (choose another one then choose the original one again). That will make Photoshop recognize the profile. You can then flatten the image if you don't want to use a smart object or need to make edits that cannot be done on a smart object.

Photoshop 22: When a third party LUT/Colour profile is applied to an image in Lightroom, this profile is not present in Photoshop 2021 when the image is exported via "edit in Photoshop 2021." I'm using the Archetype Process Fujifilm Profile pack.

@JohanElzenga Thank you for the info. In the meantime I've found the other thread. Using the Smart Object workaround does not work all the time (sometimes the custom profiles are available, sometimes not?) and I have a feeling that there's a color cast but I might be wrong. Anyway...it would be good if Adobe would issue a fix as this is a serious problem imho.

This is a known bug and discussed in another thread aready. Adobe is working on it.

Yes, it does not make a difference if it's send the "normal" way or as a Smart Object. Results are the same. I know it's difficult to explain but as mentioned when the raw file is transferred from LR to PS and you open the ACR Filter the custom profiles are not available. If you select to reinstall the filters within ACR Filter there is an error message that the custom profiles are already installed (but they are nowhere visible).

BUT...as described above (and it does not matter if LR is open or closed)...when you open PS, select open file, select any .CR3 raw file that matches those custom profiles, the file opens within ACR and the custom profiles are available, selectable and can be applied. The file opens within PS and the profile applied. If you select the Camera Raw Filter once more (and it does not matter if it's just the background layer, a duplicate etc.) the custom profiles no longer show up. Only the Adobe standard profiles.

I just reverted back to LR Classic 9.4 and Photoshop 21.1.x with ACR 12.3 and all is working fine (as it was before the updated) with the custom profiles transferred from LR to PS during the "Edit in PS" dialog. The custom profiles are also available in the Camera Raw Filter.

So I can clearly pin this on the updates to 10.0 and 22.0.

Have you sent this RAW file to Ps as a Smart Object and then tried to the ACR Filter to see if the custom profile is there?

@Just_Shoot_Me The export as a TIF works fine with the custom preset applied and visible upon opening in PS. As I have mentioned when I start PS (22.0.0) and open the raw file manually I can select the custom profile in the open file dialog within Camera Raw and the profile is applied correctly. However once opened the Camera Raw Filter won't show those profiles anymore. But the main problems is that during the handover from LR Classic (10.0) to PS (22.0.0) via the "Edit in Photoshop..."-option the profile gets lost.

What happens if you Export that image as a TIF In LrC and then open that TIF file in Ps?