www.colour-science.org/posts/the-colorchecker-considered-mostly-harmless/

“Unless you have all the relevant spectral measurements, a colour rendition chart should not be used to perform colour-correction of camera imagery but only for white balancing and relative exposure adjustments.”

“Using a colour rendition chart for colour-correction might dramatically increase error if the scene light source spectrum is different from the illuminant used to compute the colour rendition chart’s reference values.”

“other factors make using a colour rendition chart unsuitable for camera calibration:

– Uncontrolled geometry of the colour rendition chart with the incident illumination and the camera.
– Unknown sample reflectances and ageing as the colour of the samples vary with time.
– Low samples count.
– Camera noise and flare.
– Etc…

“Those issues are well understood in the VFX industry, and when receiving plates, we almost exclusively use colour rendition charts to white balance and perform relative exposure adjustments, i.e. plate neutralisation.”

chrisbrejon.com/cg-cinematography/