I can highly recommend reading this series of articles by Troy Sobotka:
https://hg2dc.com/why/
And if you haven’t seen this yet, a brilliant Bartek Skorupa at the Blender Conference (Color Management for humans):
https://www.youtube.com/watch?v=kVKnhJN-BrQ
Both not a direct answer to your question but extremely helpful in understanding what is going on with the extremely complicated thing, so loosely called ‘color’.
