Video Blown Out in New Version of Premiere Pro

It's JULY 15th 2023 -and I am STILL having issues importing footage. PP was working FINE the last two weeks, then suddenly -I lost an entire project file and now all of my Slog3 media is entirely blown out when modified to the correct color space. I am absolutely SICK of this app -I can't get through a single project without spending a few hours on this site trying to find answers to questions THAT I SHOULD NOT HAVE. You're really going to force me to learn Davinci aren't you???

For me it was going to the Media Encoder > export settings > preset > H624 match source - HLG

Also this youtube was helpful: https://www.youtube.com/watch?v=zLBfRjHFwOU

I ran into a similar problem today when I moved a clip from one sequence to another sequence where I was building a short film project. Once moved, the moved clip showed in the timeline as blown out whereas the clip in its own original standalone sequence still appeared to be perfectly exposed in the timeline. I Googled an explanation/solution and came across this thread. The problem is, I was still working on PP 2020. I decided to update to the latest version anyway in an effort to try and apply some of the pointers here. Interestingly/annoyingly, both sequence settings are at rec.709 but the original (created by right-clicking and selecting 'New Sequence from Clip') still appears lighter in the timeline than it did in the PP 2020 version but responds well to Lumetri adjustments (ie. it's rescue-able), whereas the clip moved from one sequence to another has clearly lost a load of information as it doesn't respond in the same way to the Lumetri adjustments. Any explanations/suggestions would be hugely helpful. I may be doing something wrong but I'm not doing anything different to how I've used PP for some time and have never come across this problem. Thanks in advance!

I am having the same issue since I updated to the latest version of Premiere in 2021. This is ridiculous. How could such an "industry standard" piece of software get this BAD of an update??? How is Final Cut working these days? Maybe it's time to switch back. I need a stable tool that works consistently. This new updated has rendered Premiere utterly useless. PLEASE ISSUE A NEW UPDATE WITH A FIX FOR THIS!!!! 

When moved to the timeline, it is blown out. Same issue when exporting. Here is a photo for reference. Any help on the fix?

 

By @tylerp59104425

Read this: FAQ: How to fix saturated/over-exposed HLG clips i... - Adobe Support Community - 12489252