This issue has been around as far as I can remember, however now it seems to happen on most tifs I import, Nikon, Canon, Phase, etc.
LR imports the files file, and they show up in the develop mod, however when you go to create the pano, LR will always push the highlights, to a point way past blown, and it also fades or hazes over 1/2 or 1/3 of the file. Problem is worse when you have a situation shown in the two images, extreme highlight blending. Basically LR just can't work the files. Same two images in Adobe CC with any of the 5 options are fine, albeit with the standard visual distortions that have to be fixed since I am using a wide lens.
Can other folks test this and see if they get similar problems. I get this on all my machines, mac or win, and have noticed it now for quite a while.
If I am able to use the raw file imported to LR and create the pano that way, most often there is none of this, only on tifs. Since many times C1 gives me a better overall solution for my files, many times I would rather use C1 tifs in LR. I still prefer LR for pano due to the boundary warp feature which most times works great and does not soften the files the way manual warping can due in CC.
Note in the example the image in the background appears hazy, however that is in part to the way LR shows the preview, the image in LR is fine as shown in my 2nd attachment.
Thanks
Paul Caldwell