I want to say up front that this issue isn't (necessarily) Adobe's fault, as it's clearly an issue with Pantone's ACB color book datbase file.
This is specific to the Pantone Solid Coated & Uncoated V4 ACB color book files. They were exported with the (no longer available) Pantone Color Manager app.
In any file in Photoshop, in the Channels panel, choose "New Spot Color." From Color Libraries, choose the Pantone Solid Coated (or Uncoated) V4 color book. Type in "Rhodamine" to select Rhodamine Red. Before you even click "OK," take a look at the Channels panel — it will list Rubine Red. You literally cannot select it.
The Pantone libraries (formerly) distributed by Adobe (the Pantone+ series and the older, lowercase versions) do not have this issue.
I'm posting this here because this issue would not exist if Photoshop was not dependent upon maintaining a live reference to an installed ACB color database file for spot channels chosen from that book.
InDesign and Illustrator do not have this issue, as they do not have the same issues with referencing colors from a live color book file.
Removing the requirment of Photoshop to have an installed color book reference to use a file with a channel from that specific book would solve so many other issues. Up to and including their decision to no longer distribute the libraries, where anyone who opens an older file created when the books were installed is going to get a "book not installed error." [https://community.adobe.com/t5/photoshop-ecosystem-discussions/pantone-colors-converted-to-black-err...
I just want to add that we've been using the V4 ACB files for years (2019) and this is the first time we're seeing this issue.
Currently our solution is to reference the older Pantone books.