The Rec2020 colorspace (aka ITU-R BT.2020) is a critical colorspace for photography and not a standard option in Photoshop. You can only install it yourself or open a file which already has it embedded, which makes things cumbersome and prone to error (there are different Rec2020 profiles on the web with different gammas, etc).
Rec2020 is the preferred colorspace for HDR (and is LRC's working primaries when in HDR mode). Rec2020 is also very ideal for print-related work as it includes many printable colors which fall outside Adobe RGB / P3, and yet avoids the excess of ProPhoto (which includes many imaginary values outside the range of human vision).
Request: please add default support in Photoshop for Rec.2020 colorspace (ie just as we have default support for sRGB, ProPhoto, etc).
Ideally this colorspace would use a D65 white point and rec709 EOTF to faciliate SDR workflows for print. That ETOF would be most consistent for SDR editing controls in curves, color picker, etc under the roughly gamma 2.2 used most often with sRGB, AdobeRGB, and P3 (note that the EOTF would be linear by default in 32-bit mode and therefore consistent with opening an image in Rec2020 ACR).
Note: If you set LR external editing colorspace for ProPhoto and then open a RAW smart object in PS, it will use Rec2020 as the closest match. So this creates a path for some Rec2020 support, but it is a confusing/hidden option and does not support SDR. Rec2020 is a better choice in SDR for many workflows. Rec2020 is an explicit and always available option in ACR, and should be in LR as well.