Input LUT on a source-level Lumetri effect renders out differently than clip-level [timeline] effect

I'm seeing some strange, unexpexcted behaviors with Source-level effects and Clip-level effects for input LUTs.

I have a test clip:

• V3: Adjustment layer with Lumetri: WB and tint adjustment
• V2: Adjustment layer with Lumetri for levels. lift, gamma, gain, offset, etc.
• V1: clip that only has a source-level input LUT via Lumetri

It renders wildly different than what the Program Monitor shows. Plopping the render back in on V4, and auditioning it, we see crazy levels and hue shifts BUT if we change it so that the V1 has a clip-level input LUT, and remove the source-level input LUT, then the render is identical.

So the adjustment layers don't really "work" on source-level effects.

I have reviewed these two threads and the blog post about the order of operations:

• https://community.adobe.com/t5/premiere-pro-discussions/lut-on-a-separate-layer-produces-different-results-than-on-the-same-clip/m-p/11963837
• https://community.adobe.com/t5/premiere-pro-discussions/faq-video-effects-order-and-how-it-affects-your-visuals/td-p/12440212
  
• https://blog.neatvideo.com/post/pr-order
  
  

And yet, Premiere is behaving inconsistently.

It has to do with how the adjustment layers interact with the source-level Lumetri effects and the clip-level Lumetri effects.

So the test to try, to replicate the issue, for the engineers, would be to compare two timelines, with these track layouts:

• V3: adjustment layer with tint/WB on Lumetri
  V2: adjustment layer with exposure adjustment
  V1: source-level lumetri effect on clip itself with input LUT

AND

• V3: adjustment layer with tint/WB on Lumetri
  V2: adjustment layer with exposure adjustment
  V1: clip-level lumetri effect on clip itself with input LUT

And here's the kicker: it only shows up in renders, not in the program monitor itself before you render it out.

This was happening in whatever the latest version of Premiere was at the end of August, 2023, but I'm only now getting around to reporting it, but I'd be interested to see if an Adobe engineer could replicate the issue and/or explain what's going on, with this seemingly inconsistent behavior.