I shoot RAW and develop files as 16-bit, aRGB TIFFs (C1 for the A7rII and the Olympus RAW developer for the Pen F).
I've learned from Dan. His book "Photoshop LAB Color" is an excellent guide/tutorial on LAB. I've read several of his books. Dan is a controversial figure. Some dismiss his concepts as being outdated or off the mark.
Dan says R, G, B, C, M, Y, K, L, A, and B channels are available to work in concert. The key to working with 10 channels is to create a master file: 16-bit aRGB (my preferrence). From there, if adjustments are called for in other spaces, copy the master file, convert to whatever color space provides access to specific channels, make an adjustment, and then convert the file back to aRGB. For example, use the CMYK>aRGB file as a layer and the Master aRGB file as another layer. Then through masks and blending modes, adjust accordingly.
Of course, one needs a calibrated monitor capable of accurately displaying aRGB (think Eizo Coloredge).
I expect to hear descent from some of the frequent and loyal LL readers and contributors. The color science "guru" engineers may come out of the woodwork and go to the trouble of presenting XYZ and XY graphs to dispel Dan's concepts. To them I say:
Color science/management involves quantitative (by the numbers) and qualitative (subjective/intuitive) assessments. The quantitative aspect is extremely important. It provides a standardized point of reference by which to build upon. True: often times playing by the numbers is the first and only way to achieve desired results. However often times, it's necessary to make adjustments that lean towards "qualitative."
So long as the end result is legal, within a specified color space: aRGB, sRGB or CMYK, and it is free of artifacts (especially under intense scrutiny), all is well.
This is an aerial overview. There are nuances I've not brought up.