1. V4 on the default setting in i1Studio.
2.https://www.color.org/whyusev4.xalter
3. But OK, I no need V4 profile for using in Ps ecosystem. I can't argued with that.
Adobe should warn about they system is not able to manage V4 icc profiles. This is their fault. They wasted a loads of my time. And yours as well.
Adobe should warn about they system is not able to manage V4 icc profiles.
By @st-ati
I've tested v4 and Photoshop/ACR/Lightroom/Bridge all handled it well on my system. But there's a broader picture here involving the GPU and OS as well. Monitor profile conversions are performed in the GPU nowadays. Sometimes it doesn't work well, for whatever reason. I use v2 as standard, just to be safe and because v4 doesn't really have any advantages anyway.
LUT profiles is another risky proposition. Here I've seen some issues in Photoshop, mostly color banding in ProPhoto. That's symptomatic, because ProPhoto is so huge that the smallest inaccuracies, masked in smaller color spaces, get massively amplified. Though it has to be said that I did this testing a while ago, when Photoshop GPU code used the OpenGL APIs. It no longer does that, instead the OS-native APIs (Metal and DirectX) are used.
It's also a question if which software is actually writing the profile. Sometimes they can be a bit off-spec.