Reduced Image White Point When Using RCM with P4K.

I need some urgent help with resolve colour management.
When I try to use RCM in Resolve 17 with my pocket 4K, the image gets clipped to around 768 on the waveform. None of the presets make a difference. I remember not having this issue in the R17 beta. I have searched everywhere but it seems like no one else has had this issue. I have even seen videos of people selecting the exact same CM setting and having their P4K footage look properly converted.
Changing the input colour space of clips also makes no difference to what is shown on my monitor/the scopes.
My workaround so far has been to reduce the ISO/Exposure of each of the affected clips in the Camera Raw tab and then bringing the highlights back up, but this is very tedious and I would strongly prefer if I didn't have to do it.
When I try to use RCM in Resolve 17 with my pocket 4K, the image gets clipped to around 768 on the waveform. None of the presets make a difference. I remember not having this issue in the R17 beta. I have searched everywhere but it seems like no one else has had this issue. I have even seen videos of people selecting the exact same CM setting and having their P4K footage look properly converted.
Changing the input colour space of clips also makes no difference to what is shown on my monitor/the scopes.
My workaround so far has been to reduce the ISO/Exposure of each of the affected clips in the Camera Raw tab and then bringing the highlights back up, but this is very tedious and I would strongly prefer if I didn't have to do it.