I had a troublesome sunflower shot last year that ACR 5.4 could not handle. Some yellows in the sunlit petal tips were well outside of the sRGB gamut and ACR's conversion of those yellow highlights from RAW to it's working area gamut was unsuccessful with bad color clipping. The sliders were of no help in fixing the color-clipped areas. The RAW data showed that the areas were not out of sensor gamut but were outside of the linear response although not saturated (sensor-wise).
On the other hand, DCraw 9.02 produced a reasonable image without much difficulty, as did Sigma Photo Pro 3.5. So converters do vary quite considerably.
Sometime I ago, I found that ACR 5.4 had the closest match to the Macbeth card, as far as the SRGB figures on the packet are concerned.
OT, but yesterday I was investigating white points and shot a white target. The same raw file produced quite different histograms in two different converters mainly the spreads (SD) were 9.33, 14.57 for the distributions. Quite noticeable.