How to Change Project from HDR to SDR?

One screen shot shows how the clip in the browser appears in the viewer with 'Show HDR as raw values' selected in preferences. I chose SDR for the project. The other screen shot shows how the clip appears in the timeline. Even though I've selected rec.709 for the project settings, the clip is still rec.2020.

No, I don't. In the previous version of FCP X, I was able to select rec.709 in the Inspector, everything worked fine. 🙂 The clips would take on a grayish greenish appearance. I'd apply a LUT from Paul Leeming and the colors would go back to normal. There were never these excessively dark or light images. The image you're looking at has been properly exposed. Feeling bad I updated...

It's common practice to make both an HDR pass and an SDR pass, but I don't see how that's possible if I change the project to rec709 yet the clips are still rec2020. I shouldn't need an HDR monitor to grade SDR. Anyhow, thanks for your help, Tom. You know it's funny, Apple offers support for FCPX in China, but not Vietnam, where I live.

An entire day wasted, but I finally found it! First, hit the tab marked Basics at the bottom of Inspector. Then, hit 'Settings'. Then in color space, change it from HLG to rec.709. shazaam!

And here's what the scopes look like.

The HDR Tools is just a viewing aid, it doesn’t convert the color space of the clips.

Thanks for that, I tried to amend my response earlier, but I guess you can only edit replies once.