Color space aware HDR Tool - setup needed in RCM?

If I'm grading a project that is Color Managed (fx. DaVinci YRGB Color Managed/Davinci Wide Gamut), and I want to make sure that the HDR Tool - which is colorspace aware - is set to the right colorspace, do I then still need to right-click the HDR palet and select the correct "Color Space" and "Gamma"? See screenshot.

Or is that always automatically set correctly when I'm in a Color managed project?

If I'm grading a project that is Color Managed (fx. DaVinci YRGB Color Managed/Davinci Wide Gamut), and I want to make sure that the HDR Tool - which is colorspace aware - is set to the right colorspace, do I then still need to right-click the HDR palet and select the correct "Color Space" and "Gamma"? See screenshot.

Or is that always automatically set correctly when I'm in a Color managed project?

HDR tools are color space aware by default. No need to right click and select anything.

Thanks for confirming that.

I think there is a underling question here: Why is there a possibility to select the color space in the HDR tools at all, when you can select it from the color settings in the project or, if you would like to use something else, right click the node and set it there.