ACES is the Academy Color Encoding System and was developed by the Academy of Motion Picture Arts and Sciences. ACEScg is the version of the ACES encoding system for computer graphics, widely adopted in the industry. It has become the industry standard, because compared to sRGB, ACEScg works with a lot more color information, as illustrated in this gamut graph.
V-Ray 5 and V-Ray 6 come with an implementation of the ACEScg out of the box, and in this tutorial, we explain the render setup in V-Ray for Cinema 4D in this color space. V-Ray supports only ACEScg as the primary color space of choice in CGI.
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The V-Ray ACEScg workflow does not require an active OCIO configuration. In V-Ray 5 and later, the relevant ACEScg transformations are part of V-Ray. However, if you do decide to use an OCIO configuration, the OCIO environment variable needs to be set and pointed to a suitable OCIO configuration. See the Using OCIO configuration section for more information.
