Function available in CINEMA 4D Prime, Visualize, Broadcast, Studio & BodyPaint 3D
Assign/Change Color Profile
At first glance, the following two commands may seem similar but they are quite different (more information regarding color profiles can be found here).
Assigns an image/texture a new color profile but the bitmap files will not be modified and the image may look slightly different.
Assigns an image/texture a new color profile and converts the bitmap files in such a manner that the image looks the same after conversion.