Archiving projects in transcoded h.265 with baked in grade

Hi everyone,
I'm looking to archive some big projects (2-3TB) into h.265 for longterm storage, and not sure of ideal workflow. I want to keep the project structure and timecode synced timelines (3-cam and 3 audio tracks) but essentially with only a sort of 'proxy' media.
What are my best options?
Options 1: Media Management transcodes everything well, but doesn't bake in the grade and colour management. If I'm converting to h.265, I assume its best to bake that in.
Option 2: Create proxies within resolve, h.264 is the only option. Again, doesn't bake in the grade.
Option 3: Export Individual Clips and try to relink. I tried this in h.264, but it won't relink despite same name (except the .mp4 ending).
Any advice? Many many thanks!!
I'm looking to archive some big projects (2-3TB) into h.265 for longterm storage, and not sure of ideal workflow. I want to keep the project structure and timecode synced timelines (3-cam and 3 audio tracks) but essentially with only a sort of 'proxy' media.
What are my best options?
Options 1: Media Management transcodes everything well, but doesn't bake in the grade and colour management. If I'm converting to h.265, I assume its best to bake that in.
Option 2: Create proxies within resolve, h.264 is the only option. Again, doesn't bake in the grade.
Option 3: Export Individual Clips and try to relink. I tried this in h.264, but it won't relink despite same name (except the .mp4 ending).
Any advice? Many many thanks!!