I haven't tested it on 15.5 yet (too busy to disrupt my 14.5 workflow at the moment) - but I was able to get that pop-up menu in 14.5 with a control-click, and it does show the "profiles" item, which is check-marked "on" in 14.5
So it will probably do the same on 15.5. As soon as I can verify that on my Mac, I'll mark this solved.
Perhaps resetting the Camera Raw preferences will solve the issue:
Hold down the Command key and select Photoshop > Preferences > Camera Raw (macOS) or hold down the Ctrl key and select Edit > Preferences > Camera Raw (Windows).
Click Yes in the dialog that asks "Delete the Camera Raw Preferences?"
Thanks, Jeff - but at this point 15.5 is no longer available on my machine and won't reinstall.
Since my original-original post is now filed under "Photoshop Ecosystem > Bugs" - I'll wait and see what the Adobe tech-mavens themselves have to say omce we are past the weekend...
Adobe asked me if I'd ever gotten a CORRECT answer to this post - the answer is NO, I have not.
To repeat - NO CORRECT ANSWER for me to choose here.
I have downloaded Camera Raw 15.5 again, and it is still missing the menu under the EDIT column for choosing a color profile. And there is nothing in the Preferences that brings it back.
Continuing to just use Camera Raw 14.5, since I really need that feature.
Still hoping for a response from an Adobe representative to explain what is going on.
System info
Mac Studio Max.
Mac OS Ventura 13.3.1(a)
Adobe Photoshop 24.7.0
Problem: Menu item is no longer available under ACR EDIT tools, in ACR version 15.4/5, when opening original camera files in .DNG format (as produced by Leica products).
See snapshot of the problem in the original post above.
Steps to reproduce: Open a raw file created by a camera that saves raw files directly in the Adobe .DNG format (Such as Leica M8/9/10 cameras), in ACR 15.4 or 15.5
No menu is now available for choosing which color profile to use with such pictures.
Sample .DNG file from Leica M10 attached to this new post.