.braw Footage Looks Odd in New Premiere Update

Okay, so I've found a workaround for this issue, but I'm still curious if anyone has any idea why this is happening.

I edited a film shot in .braw last year using a previous version of Premiere Pro. It was in July 2022, so whatever version was out at that time. I recently opened the project again to do some new work. I hadn't touched the project in a long time, and since I'm now using Premiere V23.1, I had to convert the project. But when I looked at the footage, it all looked blue and desaturated. After some forum-scouring, I decided to try to download the V.22.0 of Premiere Pro and open the project file that way to see if that would solve the issue. But after V.22.0 downloaded, the color suddenly changed on the open project file in Premiere V23.1.

I tested this by deleting V.22.0, and sure enough, the color returned to being blue and desaturated. As soon as I redownloaded V.22.0, the color returned to normal. Any idea as to what's going on here? Clearly something is included in the V.22.0 download that is casuing this. Like I said, I can simply keep both versions installed while I edit, but I'm puzzled as to why this is happening.

To be clear, I'm seeing the color change happen on my converted project file in Premiere V.23.1. 

I suppose it's also worth noting that isntalling an older version of Premiere automatically installs an older version of Media Encoder., which in this case was V.22.6.3.

Specs:

Dell XPS 17
Processor Intel(R) Core(TM) i9-10885H CPU @ 2.40GHz 2.40 GHz
Installed RAM 64.0 GB (63.8 GB usable)
System type 64-bit operating system, x64-based processor
Pen and touch Touch support with 10 touch points

Edition Windows 11 Home
Version 22H2
Installed on ‎11/‎10/‎2022
OS build 22621.963
Experience Windows Feature Experience Pack 1000.22638.1000.0