I am SOOO fed up with Adobe changing stuff like this in updates and no ability to turn it off or just go back to the old way. Why overcomplicate this? Before I simply dragged in my HLG3 footage, applied conversion lut, and renderd just fine. Now when rendering it looks insane and blown out and messed up. Switching all the settings interpret footage helped but still not the same. I need to finally learn DaVinci and get off this total nonsense.
Mod note: Branched and moved to Video Lounge
Adobe Premiere is THE WORST! Modifying to 709 just makes all of my footage worse. I am with you on moving to Davinci and have been for a few years now. But this is the nail in the coffin. The Pr developers never test this garbage software before they release it. I have been working an extra 12 hours on a simple iPhone video edit because the colors look like mud.
After using the Modify/Interpret Footage to Rec.709, you would then need to also change the Sequence setting CM to Rec.709. Then, if the footage isn't a log-encoded clip, it should be usable with (as always) color corrections.
As a daily Resolve user, the issue here is that you are unfamiliar with the new CM options and defaults introduced in the 2022 Premiere Pro. I would note ... for basic operations in Resolve, you would have to learn how to do exactly what you'll need to learn 'here', over in Resolve. Plus a completely different editing process.
Prermiere is slowly adding the CM options that Resolve users have had available for some time. And in fact, have had to learn, to use Resolve.
So either app you use, you'll have to learn to use the CM options there.
These apps are all just tools. Fancy hammers. Use what works, there ain't no perfect one.
I'm sure you know, but it has come up before ... so for anyone reading this thread, if you've done any color correction and then change the sequence or clip color management, you need to reset the Lumetri panel color.
For your case, what is the sequence CM set to? What is the clip, and I take you you used the override on that?
And are you using proxies ... ?