ProRes Raw 12 bit

I'm having a lot of difficulty managing and editing ProRes Raw 12 bit footage in Prem Pro. Is this format fully supported in Prem Pro? It appears maybe not.

Under Inteterpret Footage, "Color Management" is greyed out, so you cannot change or remove the input LUT.

Also, when I create a proxy from that clip in this case H264 Low res, the resulting proxy's contrast and saturation is cranked. This does not happen with ProRes Raw 10 bit file. 

Is there a reason / workaround for this? Obviously working with a proxy that varies significantly from the high res file is pointless.

Attached screen grabs show hi-res file vs proxy file.