There are a ton of things you must learn to get going, decently, in Premiere. Or any of the other major video post apps, including Avid and Resolve, Nuke, Baselight, et al. Because they are designed to be manually operated ... they have an incredible array of tools and effects, but the user is expected to want to have total, manual control.
Color management is a newer part of video post processing, and is absolutely a requirement to get functional. Why? Dynamic range and color space/volume will be wildly different depending on what/how the video was created.
Dynamic range is the total range of brightness values between black and white. HDR ... high dynamic range ... can have anything from 200 nits brightness to 5,000 nits or above, encoded into the video file. Standard dynamic range or SDR video ... the Rec.709 we've been using in the past, and still the majority of professional broadcast/streaming media ... has 100 nits brightness encoded in the file. See the difference?
The array of color spaces and "volumes" produced by devices and computer apps is simply enormous these days, and also growing. It used to be that all devices worked within the constraints of the sRGB color space/volume, but now, there are many defined color spaces, and many devices actually have their own unique color space.
HDR for example can be still in sRGB, though rare ... or listed as Rec. 2020, 2100, HLG, PQ, or listed as a camera specific color space by Arri, Sony, Red, and several others.
So all these possibilities have to be checked and properly transformed to the dynamic range and color space you want to produce for your final product.
Most projects should still be Rec.709, as the HDR stuff is still Wild Wild West, most screens still do not do it al all, and of those that do, most do only one or two of several possible variants, and that ... neither well nor predictable. Within a couple more years that will probably change ... we all hope. But then, the colorist community thought back in 2019 that HDR would be taking over within a couple years ... um ... nope. Because the screen technologies first used simply failed quickly enough and were expensive enough to make the factories went belly up.
So you need your color management settings to combine to get the final result. I and others have many posts on here about color management.
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