Lightroom Classic Camera settings in Preferences versus Lens Corrections

[Heirloom Bob]

Within preferences, I see I can select my camera make and model (Sony RX-10 IV) but unsure what that means when I select it. Does anything different happen in terms of how Lightroom deals with my images?

And under Lens Corrections, I can see Sony as make but only one Sony DT 18-200mm lens  under Model and one Profile. Model and Profile are not my lens.

[TheDigitalDog]

I believe you're asking about DCP camera profiles and yes, they do affect the image color and tone. This is quite different from a Lens profile for optical corrections. 

For more info about DCP  (DNG) camera profiles:

Everything you thought you wanted to know about DNG/DCP camera profiles:
All about In this 30 minute video, we will look into the creation and use of DNG (.dcp) camera profiles in three raw converters. The video covers:
What are DNG camera profiles, how do they differ from ICC camera profiles.
Misconceptions about DNG camera profiles.
Just when, and why do you need to build custom DNG camera profiles?
How to build custom DNG camera profiles using the X-rite Passport software.
The role of various illuminants on camera sensors and DNG camera profiles.
Dual Illuminant DNG camera profiles.
Examples of usage of DNG camera profiles in Lightroom, ACR, and Iridient Developer.
Low Rez (YouTube):
http://youtu.be/_fikTm8XIt4
High Rez (download):
http://www.digitaldog.net/files/DNG%20Camera%20profile%20video.mov

[GoldingD]

As for lens corrections, you are probably getting a statement that "Built-in Lens Correction Applied" This is common for newer cameras, especially Mirrorless. Occurs when you are using native glass on these cameras. Agreement and collaboration between manufacturers and Adobe to treat this as such. Nothing you can do about it. Modern lenses on modern cameras meant to work together, by default make the correction in camera. I think, that over at the feedback site, a me to complaint exists requesting that Adobe reverts this, I do not have the link. (think it has been feasturing at the feedback site for two years)

[TheDigitalDog]

Yes David, I own that Sony as well. It's not an interchangeable lens and indeed, LR automatically uses "Built-in Lens Correction". So there's really nothing the OP has to do or select other than the check boxes seen below.