Progress!
I exported a ProRes 444 with HDTV Color Management turned on instead of the Converter and then reimported that frame into AE, and it’s an identical match with the Simulated Output! Yay!
However in QT7&X it’s still far off, although X looks better than 7. the gamma in 7 is way off (dark).
I also tried importing it into FCP but it doesn’t look any different.
I appreciate all your help.
Here’s a DPX frame for you to play with.
3389_reel1abgrd19.08867.dpx.zip