No ACE's in Premiere!!? Does anyone have a work around?

If anyone's looking for the answer to this problem, My honest opinion is It's better to just work in DaVinci Resolve or Edit in AE (which is terrible for making 500 cuts to the beat of an EDM song). Yes, I think it's faster to spend 2 hours learning Resolve and how to import and cut than it is to try to regain your colors back in Premiere Pro.  Resolve makes it seemless, and you have a more powerful color control. If you run into the exact problem  the best thing would be to do is use the Gamma effect set it to level 6, theres "Auto" feature in Lumetri that sort of works. You'll have to adjust it but it still doesn't look as good as it did in AE using ACES.

AfterEffects has OCIO and ACES, but it's not yet made it into Premiere. And as someone that works for/with/teaches pro colorists, I spend a lot of time in Resolve and "interpret" how to work in Premiere for Resolve users. And that's a frustration for sure.

I assume you know of the new, full set of color management controls in the Lumetri panel Settings tab, which at least is a big upgrade from previous versions. Their algorithm based tonemapping is actually pretty decent, whether working with log footage in general into Rec.709 or using HLG or PQ clips on a Rec.709 timeline.

That requires that you have the project CM setting for auto detect log "on", and auto tonemapping in the Sequence CM. Again, this can all be done in the Lumetri panel's Settings tab.

From staffers ... Premiere takes the native space of the clips, and transfers all clip data to 32 bit float. You can set the Sequence CM now, to Rec.709, HLG, or PQ, and what that does "effectively" is set the display color space. Think display ODT. So any chroma/tonal work is done to original clip data in 32 bit float, then an ODT is "effectively" used to give the data to the display.

You can set the display gamma to be used in the Program monitor now, three options, 1.96, 2.2, or 2.4.

At export, the Sequence CM and export CM need to be the same ... Rec.709 export presets don't have any additional name parts, HLG and PQ presets do include their color space in the preset name. So at export, match the preset to the Sequence.