I found an easy way to deal with it in standard Davinci YRGB mode. I tested it with cDNG clips that have raw tab gamma set to "BMD Pocket 4K Film" but it should also work equally well for ProRes clips recorded in film mode.
1. In project settings, set Color Science to "Davinci YRGB" and set Timeline Color Space to "Blackmagic Design Pocket 4K Film"
2. On color page, add Color Space Transform OFX to the first node.
3. Set the inputs and outputs of Color Space Transform to "use timeline", tone mapping to "none" and Gamut Mapping to "Saturation Mapping", then tweak the knee and max settings until the super saturated highlights look the way you like.
4. After that can just grade normally. Or, you can set the CST node output color space and gamma to Rec709, if that's what your monitor is calibrated for and you like the look as a starting point. Or, you could instead add the "Blackmagic Pocket 4K Film to Extended Video" LUT as it provides a very nice starting point for a grade. I personally prefer the latter.
- Screen Shot 2018-10-19 at 2.35.25 PM.png (60.33 KiB) Viewed 3557 times
- Screen Shot 2018-10-19 at 2.37.46 PM.png (71.23 KiB) Viewed 3557 times
EDIT: For anyone working in other apps, or for whatever reason you need to use LUTs, I made two to deal with highly saturated lights on the 4K Pocket. They should work in Davinci YRGB no matter how the timeline color space is set.
This LUT linked below does only the saturation mapping:
https://drive.google.com/open?id=1oXRC2UuplLKPSZiH_qPWTwsW72mC5445This LUT linked below does the saturation mapping and adds the standard Blackmagic Pocket 4K Film to Extended Video v4 transform:
https://drive.google.com/open?id=13Q5lf1nd0L8SEIBHBGnfpe1Dhq3t9_pK