Issues in red channel Resolve

Apologies if not in the right thread, but we have been experiencing some issues with Aces in resolve.
I have been experiencing issues primarily with the red channel.
When in ACES with AOT set to rec709 you can see there is clipping. With AOT set to rec2020 HLG(1000 nits) then the channels are correct
Is this a limitation of the rec709 OT in ACES or is something else going on.
The footage is RED epic Dragon 8:1
Any help will be appreciated.

Win 10 22H2 build 19045.2965
Intel(R) Core™ i7
128 GB
nvidia 2080 super
DR 18.1.2 build 6