When round tripping from Pr to Ae and back to Pr, the color space isn't saving. When scrubbing back in Pr, the color space of the reference doesn't match the rest of the clip. You get color changes as you advance through the same clip.
I attempted to get the color space to save in Ae and it looks like it does. In Ae, I interpret and change to Rec2020 and hit ok and all video files and for the project, then I save Ae and close the project.
If I try again to re-edit the original Ae comp from Pr, when I get to Ae the color space for the media defaults back to REC 709.the values didn't stick.
I have Pr V24.0.0 Build 58 and Ae V24.0.0 Build 55.
Sorry for the poor experience. I'm shifting this thread to the Discussions section for troubleshooting purposes. Could you go to File > Dynamic Link > Import Premiere Pro Sequence and let us know if you still see the problem? Please also refer to this video for more information: https://youtu.be/KsmBCwRAitg.
Ishan's link is very good ... as there are two ways to round trip depending on a couple factors, and it isn't at all obvious. For many processes, rather than creating a dynamic link from Premiere, it's better to open Ae, then open the Pr sequence in Ae to make your comp. For some needs, the standard create comp from the Pr sequence works fine.
Karl does a great job of explaining this in that video!
And it's all very doable, you just have to know the way it actually will work as you want it to.