8-bit rec709 profiles are much more flexible in post than you might think. I'm not saying they're as good as an Alexa or whatever, but they're a million miles better than people give them credit for.
Here's a latitude and WB torture test of the GX85, in the standard profile (8-bit rec709) customised to have reduced contrast but normal saturation.
For each of the below, the left image is the properly exposed reference image, the middle one is the graded image, and the one on the right i
The biggest difference I notice between 8 and 10 bit footage is that 8 bit has splotchy chroma variation. I believe this is a result of the encoder rather than inherent in bit depth, but it's been visible on every camera that I've used which natively shoots both bit depths. In this quick example, I shot 60 Mbps 4:2:0 UHD Rec 709 in 10 bit H265 and 8 bit H264, and added some saturation to exaggerate the effect. No other color corrections applied. Notice when zooming in, the 8 bit version has sort