There's a great article that explains how to use math to address the issue you metion: https://www.picturecorrect.com/tips/photoshop-computes-color... Thankfully using interpreted languages has the added benefit of usually handling numbers better, so converting between color spaces is pretty painless.

Professionally I've handled things more conservatively. Monitors with deep color support are only now being more popular. Most server side tech seems support traditional color depth best. Now is the time to start thinking about deeper color images on by default, webp is great, and support has only recently became mainstream on iOS14.