Lightroom Classic Camera settings in Preferences versus Lens Corrections

As for lens corrections, you are probably getting a statement that "Built-in Lens Correction Applied" This is common for newer cameras, especially Mirrorless. Occurs when you are using native glass on these cameras. Agreement and collaboration between manufacturers and Adobe to treat this as such. Nothing you can do about it. Modern lenses on modern cameras meant to work together, by default make the correction in camera. I think, that over at the feedback site, a me to complaint exists requesting that Adobe reverts this, I do not have the link. (think it has been feasturing at the feedback site for two years)

I believe you're asking about DCP camera profiles and yes, they do affect the image color and tone. This is quite different from a Lens profile for optical corrections. 

For more info about DCP  (DNG) camera profiles:

Everything you thought you wanted to know about DNG/DCP camera profiles:
All about In this 30 minute video, we will look into the creation and use of DNG (.dcp) camera profiles in three raw converters. The video covers:
What are DNG camera profiles, how do they differ from ICC camera profiles.
Misconceptions about DNG camera profiles.
Just when, and why do you need to build custom DNG camera profiles?
How to build custom DNG camera profiles using the X-rite Passport software.
The role of various illuminants on camera sensors and DNG camera profiles.
Dual Illuminant DNG camera profiles.
Examples of usage of DNG camera profiles in Lightroom, ACR, and Iridient Developer.
Low Rez (YouTube):
http://youtu.be/_fikTm8XIt4
High Rez (download):
http://www.digitaldog.net/files/DNG%20Camera%20profile%20video.mov