Good news! So I have developed the following workflow.
FOR H.264 VIDEO WITH NEGATIVE ML-ISO:
Import footage to 5DtoRGB
Export to ProRes 4:2:2 HQ
Color Correct in Premiere, bring highlights until pink highlights are very obvious.
Videolimiter on Chroma, Highlight Compression, reduce Chroma Max until 1% Below level where pink highlights are no longer visible.
Finished, footage is clean.