In camera proxies are generated to save time in post rather than having to generate then again in the NLE. I am assuming that the proxies have the same LUT as the masters baked in?
Editing with proxies in general regardless of how they were made is about performance. Linking to a proxy has a better chance at performance than linking to the 4K UHD version. But that also depends on what codec and date rate the proxies have been created at.
You are not forced to work one way or the other -if you want to link to the 4K UHD, do so, try and see if editing works. If it does, good. If not, you can transcode from there.
Michael