Hi currently when you have no gpu enabled so mercury software only the image stretches in After Effects...
When you apply lumetri color to an layer
https://i.gyazo.com/ecb3ee8d479bcc41db88d4dc69417b9a.mp4
Video example here
Even with all of the Lumetri color effects disabled it still distorts it.
Its a jpg picture in a 1920x1080 AE comp. With 46% scale since the image is 4k by 6k.
A way to fix this is to enable the gpu, but this is an half solution and doesnt fix the problem.
M1 Max, 64GB, AE 23.2.1 build 3
Please fix,
Much love,
Dierenwinkel