As far as I know RAW Image data is a mosaic of red, green, and Blue pixels. The is no RGB Color or Color Profile. Raw converters can convert the mosaic into an RGB image in any color profile. The one use by many is ProPhotoRGB. Canon DPP raw converter may convert the RAW data very differently than ACR does. It may apply some Canon Camera setting image preferences that ACR does not. Adobe provides may Canon Profiles and you can change the profile used for your camera as a default. I would not expect the different RAW converters would all produce the same default raw conversion. You Camera Color Profile setting is most likely for the in camera RAW conversion to an 8 bit RGB jpeg image. What color space the RAW data should be converted to
If i open my raw with :
Capture one, DxO, viewer (macosx), etc... They all take an "srgb look" with some minors difference with colors etc. That's a fact and i'm ok with it : they all opens the raw with differences. Minor differences...
Camera Raw have a look very contrasty like "adobe98".
My post was showing how i was seing that.
In DPP, when i force "adobe98" instead of "srgb", I got the exact same look as in Camera Raw (contrasts etc).
And of course, in DPP i have put the raw with all settings desactivated.
Just a thing i considere: adobe in their "camera standard" profile tend to mimic the "camera standard" from dpp.
That's always the case for all the camera (example above: 5DMarkIII etc.).
But for "old" cameras they have done a srgb "look", but for some new camera they have done an "adobe98" look.
(you can try in DPP to get image/space srgb/srgb, and try image/space srgb/adobe98, and you will see how the contrast increases).
I use ACR for my Canon cameras and do not load Canon software, LR or Capture one etc. I'm happy with ACR why would I want make work for myself load and maintain all the other software I would not use. Maintaining and using Photoshop is more work than I need.