In After Effects 2023, choosing the new OCIO color management engine sets the project working space to linear ACEScg. The gamma options are greyed out so there is no confusion and no manual setting for linear compositing. This is all great!
But the user can still choose between 8 / 16 / 32 bpc.
OCIO / ACES should be 32 bits only. You cannot do linear compositing in 8 bit, and AFAIK if you try to work in 16 bit then you'll get problems with overbrights and potentially very weird color artefacts.
So - if you choose the new OCIO color engine, then the project should be locked to 32 bits, just like the gamma is locked to linear.