Bug: Transcoding MXF files removes LOG profile
This is what I noticed for version 22.0. When transcoding MXFs (created from Sony FX6) to ProRes (proxy and non-proxy) it removes the LOG profile—and for some reason converts the colors automatically to Rec.709. I'm not sure if Premiere reads the MXF file with the viewing LUT I used for my HDMI monitor output when shooting, but it shouldn't have baked it in.
When I imported the MXF file to my Source Monitor, it recognizes the LOG profile, but when creating a sequence out of it, the LOG is removed.
I reverted to Premiere's older version (v.15.4.1) because of this, and this will be the version that works with my MXF log videos.