HLG and mixed media

Hi,
I am new to editing HLG video and wish to render output in SDR mixing HEVC HLG files with with Cineform 10bit Rec.709 files. Can I set the color processing mode to "HDR DaVinci Wide Gamut Intermediate" and the output color space to Rec.709, checking that the input color space is correct for each clip depending on two different kind of files? Am I anywhere close to doing this correctly and will this negate the need to use a correction LUT? Thanks in advance for any help and apologies if this has been covered elsewhere.

Here's the approach I would start with. See how it works for you.

Rec 709 RCM.png (23.29 KiB) Viewed 238 times

And make sure the clips are set to the correct Input Color Space.

Hi Jim,
Thanks for your response! I will give these settings a try.