diff --git a/client/ayon_core/hosts/hiero/api/events.py b/client/ayon_core/hosts/hiero/api/events.py
index 304605e24e..663004abd2 100644
--- a/client/ayon_core/hosts/hiero/api/events.py
+++ b/client/ayon_core/hosts/hiero/api/events.py
@@ -8,6 +8,7 @@ from .lib import (
     sync_avalon_data_to_workfile,
     launch_workfiles_app,
     before_project_save,
+    apply_colorspace_project
 )
 from .tags import add_tags_to_workfile
 from .menu import update_menu_task_label
@@ -44,6 +45,8 @@ def afterNewProjectCreated(event):
         # reset workfiles startup not to open any more in session
         os.environ["WORKFILES_STARTUP"] = "0"
 
+    apply_colorspace_project()
+
 
 def beforeProjectLoad(event):
     log.info("before project load event...")
@@ -122,6 +125,7 @@ def register_hiero_events():
     except RuntimeError:
         pass
 
+
 def register_events():
     """
     Adding all callbacks.
diff --git a/client/ayon_core/hosts/hiero/api/lib.py b/client/ayon_core/hosts/hiero/api/lib.py
index 8682ff7780..aaf99546c7 100644
--- a/client/ayon_core/hosts/hiero/api/lib.py
+++ b/client/ayon_core/hosts/hiero/api/lib.py
@@ -11,7 +11,6 @@ import warnings
 import json
 import ast
 import secrets
-import shutil
 import hiero
 
 from qtpy import QtWidgets, QtCore
@@ -36,9 +35,6 @@ from .constants import (
     DEFAULT_SEQUENCE_NAME,
     DEFAULT_BIN_NAME
 )
-from ayon_core.pipeline.colorspace import (
-    get_imageio_config
-)
 
 
 class _CTX:
@@ -105,9 +101,9 @@ def flatten(list_):
 
 
 def get_current_project(remove_untitled=False):
-    projects = flatten(hiero.core.projects())
+    projects = hiero.core.projects()
     if not remove_untitled:
-        return next(iter(projects))
+        return projects[0]
 
     # if remove_untitled
     for proj in projects:
@@ -1050,18 +1046,68 @@ def _set_hrox_project_knobs(doc, **knobs):
 
 
 def apply_colorspace_project():
-    project_name = get_current_project_name()
-    # get path the the active projects
-    project = get_current_project(remove_untitled=True)
-    current_file = project.path()
-
-    # close the active project
-    project.close()
+    """Apply colorspaces from settings.
 
+    Due to not being able to set the project settings through the Python API,
+    we need to do use some dubious code to find the widgets and set them. It is
+    possible to set the project settings without traversing through the widgets
+    but it involves reading the hrox files from disk with XML, so no in-memory
+    support. See https://community.foundry.com/discuss/topic/137771/change-a-project-s-default-color-transform-with-python  # noqa
+    for more details.
+    """
     # get presets for hiero
+    project_name = get_current_project_name()
     imageio = get_project_settings(project_name)["hiero"]["imageio"]
     presets = imageio.get("workfile")
 
+    # Open Project Settings UI.
+    for act in hiero.ui.registeredActions():
+        if act.objectName() == "foundry.project.settings":
+            act.trigger()
+
+    # Find widgets from their sibling label.
+    labels = {
+        "Working Space:": "workingSpace",
+        "Viewer:": "viewerLut",
+        "Thumbnails:": "thumbnailLut",
+        "Monitor Out:": "monitorOutLut",
+        "8 Bit Files:": "eightBitLut",
+        "16 Bit Files:": "sixteenBitLut",
+        "Log Files:": "logLut",
+        "Floating Point Files:": "floatLut"
+    }
+    widgets = {x: None for x in labels.values()}
+
+    def _recursive_children(widget, labels, widgets):
+        children = widget.children()
+        for count, child in enumerate(children):
+            if isinstance(child, QtWidgets.QLabel):
+                if child.text() in labels.keys():
+                    widgets[labels[child.text()]] = children[count + 1]
+            _recursive_children(child, labels, widgets)
+
+    app = QtWidgets.QApplication.instance()
+    title = "Project Settings"
+    for widget in app.topLevelWidgets():
+        if isinstance(widget, QtWidgets.QMainWindow):
+            if widget.windowTitle() != title:
+                continue
+            _recursive_children(widget, labels, widgets)
+            widget.close()
+
+    msg = "Setting value \"{}\" is not a valid option for \"{}\""
+    for key, widget in widgets.items():
+        options = [widget.itemText(i) for i in range(widget.count())]
+        setting_value = presets[key]
+        assert setting_value in options, msg.format(setting_value, key)
+        widget.setCurrentText(presets[key])
+
+    # This code block is for setting up project colorspaces for files on disk.
+    # Due to not having Python API access to set the project settings, the
+    # Foundry recommended way is to modify the hrox files on disk with XML. See
+    # this forum thread for more details;
+    # https://community.foundry.com/discuss/topic/137771/change-a-project-s-default-color-transform-with-python  # noqa
+    '''
     # backward compatibility layer
     # TODO: remove this after some time
     config_data = get_imageio_config(
@@ -1074,6 +1120,13 @@ def apply_colorspace_project():
             "ocioConfigName": "custom"
         })
 
+    # get path the the active projects
+    project = get_current_project()
+    current_file = project.path()
+
+    msg = "The project needs to be saved to disk to apply colorspace settings."
+    assert current_file, msg
+
     # save the workfile as subversion "comment:_colorspaceChange"
     split_current_file = os.path.splitext(current_file)
     copy_current_file = current_file
@@ -1116,6 +1169,7 @@ def apply_colorspace_project():
 
     # open the file as current project
     hiero.core.openProject(copy_current_file)
+    '''
 
 
 def apply_colorspace_clips():
@@ -1125,10 +1179,8 @@ def apply_colorspace_clips():
 
     # get presets for hiero
     imageio = get_project_settings(project_name)["hiero"]["imageio"]
-    from pprint import pprint
 
     presets = imageio.get("regexInputs", {}).get("inputs", {})
-    pprint(presets)
     for clip in clips:
         clip_media_source_path = clip.mediaSource().firstpath()
         clip_name = clip.name()
diff --git a/client/ayon_core/hosts/hiero/api/tags.py b/client/ayon_core/hosts/hiero/api/tags.py
index 5abfee75d0..d4acb23493 100644
--- a/client/ayon_core/hosts/hiero/api/tags.py
+++ b/client/ayon_core/hosts/hiero/api/tags.py
@@ -144,7 +144,7 @@ def add_tags_to_workfile():
     # Get project task types.
     project_name = get_current_project_name()
     project_entity = ayon_api.get_project(project_name)
-    task_types = project_entity["taskType"]
+    task_types = project_entity["taskTypes"]
     nks_pres_tags["[Tasks]"] = {}
     log.debug("__ tasks: {}".format(task_types))
     for task_type in task_types:
diff --git a/client/ayon_core/hosts/maya/api/lib.py b/client/ayon_core/hosts/maya/api/lib.py
index 321bcbc0b5..b8c9bedc60 100644
--- a/client/ayon_core/hosts/maya/api/lib.py
+++ b/client/ayon_core/hosts/maya/api/lib.py
@@ -2520,7 +2520,16 @@ def set_scene_fps(fps, update=True):
     """
 
     fps_mapping = {
+        '2': '2fps',
+        '3': '3fps',
+        '4': '4fps',
+        '5': '5fps',
+        '6': '6fps',
+        '8': '8fps',
+        '10': '10fps',
+        '12': '12fps',
         '15': 'game',
+        '16': '16fps',
         '24': 'film',
         '25': 'pal',
         '30': 'ntsc',
@@ -2612,21 +2621,24 @@ def get_fps_for_current_context():
     Returns:
         Union[int, float]: FPS value.
     """
-
-    project_name = get_current_project_name()
-    folder_path = get_current_folder_path()
-    folder_entity = ayon_api.get_folder_by_path(
-        project_name, folder_path, fields={"attrib.fps"}
-    ) or {}
-    fps = folder_entity.get("attrib", {}).get("fps")
+    task_entity = get_current_task_entity(fields={"attrib"})
+    fps = task_entity.get("attrib", {}).get("fps")
     if not fps:
-        project_entity = ayon_api.get_project(
-            project_name, fields=["attrib.fps"]
+        project_name = get_current_project_name()
+        folder_path = get_current_folder_path()
+        folder_entity = ayon_api.get_folder_by_path(
+            project_name, folder_path, fields={"attrib.fps"}
         ) or {}
-        fps = project_entity.get("attrib", {}).get("fps")
 
+        fps = folder_entity.get("attrib", {}).get("fps")
         if not fps:
-            fps = 25
+            project_entity = ayon_api.get_project(
+                project_name, fields=["attrib.fps"]
+            ) or {}
+            fps = project_entity.get("attrib", {}).get("fps")
+
+            if not fps:
+                fps = 25
 
     return convert_to_maya_fps(fps)
 
diff --git a/client/ayon_core/hosts/maya/tools/mayalookassigner/vray_proxies.py b/client/ayon_core/hosts/maya/tools/mayalookassigner/vray_proxies.py
index 88ef4b201a..c1d9f019e4 100644
--- a/client/ayon_core/hosts/maya/tools/mayalookassigner/vray_proxies.py
+++ b/client/ayon_core/hosts/maya/tools/mayalookassigner/vray_proxies.py
@@ -7,7 +7,7 @@ from maya import cmds
 import ayon_api
 
 from ayon_core.pipeline import get_current_project_name
-import ayon_core.hosts.maya.lib as maya_lib
+import ayon_core.hosts.maya.api.lib as maya_lib
 from . import lib
 from .alembic import get_alembic_ids_cache
 
diff --git a/client/ayon_core/hosts/nuke/api/lib.py b/client/ayon_core/hosts/nuke/api/lib.py
index 78cbe85097..e3505a16f2 100644
--- a/client/ayon_core/hosts/nuke/api/lib.py
+++ b/client/ayon_core/hosts/nuke/api/lib.py
@@ -1495,18 +1495,28 @@ class WorkfileSettings(object):
 
         filter_knobs = [
             "viewerProcess",
-            "wipe_position"
+            "wipe_position",
+            "monitorOutOutputTransform"
         ]
 
+        display, viewer = get_viewer_config_from_string(
+            viewer_dict["viewerProcess"]
+        )
+        viewer_process = create_viewer_profile_string(
+            viewer, display, path_like=False
+        )
+        display, viewer = get_viewer_config_from_string(
+            viewer_dict["output_transform"]
+        )
+        output_transform = create_viewer_profile_string(
+            viewer, display, path_like=False
+        )
         erased_viewers = []
         for v in nuke.allNodes(filter="Viewer"):
             # set viewProcess to preset from settings
-            v["viewerProcess"].setValue(
-                str(viewer_dict["viewerProcess"])
-            )
+            v["viewerProcess"].setValue(viewer_process)
 
-            if str(viewer_dict["viewerProcess"]) \
-                    not in v["viewerProcess"].value():
+            if viewer_process not in v["viewerProcess"].value():
                 copy_inputs = v.dependencies()
                 copy_knobs = {k: v[k].value() for k in v.knobs()
                               if k not in filter_knobs}
@@ -1524,11 +1534,11 @@ class WorkfileSettings(object):
 
                 # set copied knobs
                 for k, v in copy_knobs.items():
-                    print(k, v)
                     nv[k].setValue(v)
 
                 # set viewerProcess
-                nv["viewerProcess"].setValue(str(viewer_dict["viewerProcess"]))
+                nv["viewerProcess"].setValue(viewer_process)
+                nv["monitorOutOutputTransform"].setValue(output_transform)
 
         if erased_viewers:
             log.warning(
@@ -1547,7 +1557,6 @@ class WorkfileSettings(object):
             host_name="nuke"
         )
 
-        viewer_process_settings = imageio_host["viewer"]["viewerProcess"]
         workfile_settings = imageio_host["workfile"]
         color_management = workfile_settings["color_management"]
         native_ocio_config = workfile_settings["native_ocio_config"]
@@ -1574,29 +1583,6 @@ class WorkfileSettings(object):
                     residual_path
                 ))
 
-        # get monitor lut from settings respecting Nuke version differences
-        monitor_lut = workfile_settings["thumbnail_space"]
-        monitor_lut_data = self._get_monitor_settings(
-            viewer_process_settings, monitor_lut
-        )
-        monitor_lut_data["workingSpaceLUT"] = (
-            workfile_settings["working_space"]
-        )
-
-        # then set the rest
-        for knob, value_ in monitor_lut_data.items():
-            # skip unfilled ocio config path
-            # it will be dict in value
-            if isinstance(value_, dict):
-                continue
-            # skip empty values
-            if not value_:
-                continue
-            if self._root_node[knob].value() not in value_:
-                self._root_node[knob].setValue(str(value_))
-                log.debug("nuke.root()['{}'] changed to: {}".format(
-                    knob, value_))
-
         # set ocio config path
         if config_data:
             config_path = config_data["path"].replace("\\", "/")
@@ -1611,6 +1597,31 @@ class WorkfileSettings(object):
             if correct_settings:
                 self._set_ocio_config_path_to_workfile(config_data)
 
+        # get monitor lut from settings respecting Nuke version differences
+        monitor_lut_data = self._get_monitor_settings(
+            workfile_settings["monitor_out_lut"],
+            workfile_settings["monitor_lut"]
+        )
+        monitor_lut_data.update({
+            "workingSpaceLUT": workfile_settings["working_space"],
+            "int8Lut": workfile_settings["int_8_lut"],
+            "int16Lut": workfile_settings["int_16_lut"],
+            "logLut": workfile_settings["log_lut"],
+            "floatLut": workfile_settings["float_lut"]
+        })
+
+        # then set the rest
+        for knob, value_ in monitor_lut_data.items():
+            # skip unfilled ocio config path
+            # it will be dict in value
+            if isinstance(value_, dict):
+                continue
+            # skip empty values
+            if not value_:
+                continue
+            self._root_node[knob].setValue(str(value_))
+            log.debug("nuke.root()['{}'] changed to: {}".format(knob, value_))
+
     def _get_monitor_settings(self, viewer_lut, monitor_lut):
         """ Get monitor settings from viewer and monitor lut
 
diff --git a/client/ayon_core/hosts/nuke/api/plugin.py b/client/ayon_core/hosts/nuke/api/plugin.py
index 5b97fab0c2..fb56dec833 100644
--- a/client/ayon_core/hosts/nuke/api/plugin.py
+++ b/client/ayon_core/hosts/nuke/api/plugin.py
@@ -1151,7 +1151,6 @@ def _remove_old_knobs(node):
         "OpenpypeDataGroup", "OpenpypeDataGroup_End", "deadlinePriority",
         "deadlineChunkSize", "deadlineConcurrentTasks", "Deadline"
     ]
-    print(node.name())
 
     # remove all old knobs
     for knob in node.allKnobs():
diff --git a/client/ayon_core/pipeline/workfile/workfile_template_builder.py b/client/ayon_core/pipeline/workfile/workfile_template_builder.py
index 6d200cd7dd..bb94d87483 100644
--- a/client/ayon_core/pipeline/workfile/workfile_template_builder.py
+++ b/client/ayon_core/pipeline/workfile/workfile_template_builder.py
@@ -36,6 +36,7 @@ from ayon_core.lib import (
     filter_profiles,
     attribute_definitions,
 )
+from ayon_core.lib.events import EventSystem, EventCallback, Event
 from ayon_core.lib.attribute_definitions import get_attributes_keys
 from ayon_core.pipeline import Anatomy
 from ayon_core.pipeline.load import (
@@ -131,6 +132,8 @@ class AbstractTemplateBuilder(object):
         self._current_task_entity = _NOT_SET
         self._linked_folder_entities = _NOT_SET
 
+        self._event_system = EventSystem()
+
     @property
     def project_name(self):
         if isinstance(self._host, HostBase):
@@ -268,6 +271,8 @@ class AbstractTemplateBuilder(object):
 
         self._project_settings = None
 
+        self._event_system = EventSystem()
+
         self.clear_shared_data()
         self.clear_shared_populate_data()
 
@@ -746,6 +751,16 @@ class AbstractTemplateBuilder(object):
 
                 placeholder.set_finished()
 
+            # Trigger on_depth_processed event
+            self.emit_event(
+                topic="template.depth_processed",
+                data={
+                    "depth": iter_counter,
+                    "placeholders_by_scene_id": placeholder_by_scene_id
+                },
+                source="builder"
+            )
+
             # Clear shared data before getting new placeholders
             self.clear_shared_populate_data()
 
@@ -764,6 +779,16 @@ class AbstractTemplateBuilder(object):
                 placeholder_by_scene_id[identifier] = placeholder
                 placeholders.append(placeholder)
 
+        # Trigger on_finished event
+        self.emit_event(
+            topic="template.finished",
+            data={
+                "depth": iter_counter,
+                "placeholders_by_scene_id": placeholder_by_scene_id,
+            },
+            source="builder"
+        )
+
         self.refresh()
 
     def _get_build_profiles(self):
@@ -891,6 +916,30 @@ class AbstractTemplateBuilder(object):
             "create_first_version": create_first_version
         }
 
+    def emit_event(self, topic, data=None, source=None) -> Event:
+        return self._event_system.emit(topic, data, source)
+
+    def add_event_callback(self, topic, callback, order=None):
+        return self._event_system.add_callback(topic, callback, order=order)
+
+    def add_on_finished_callback(
+        self, callback, order=None
+    ) -> EventCallback:
+        return self.add_event_callback(
+            topic="template.finished",
+            callback=callback,
+            order=order
+        )
+
+    def add_on_depth_processed_callback(
+        self, callback, order=None
+    ) -> EventCallback:
+        return self.add_event_callback(
+            topic="template.depth_processed",
+            callback=callback,
+            order=order
+        )
+
 
 @six.add_metaclass(ABCMeta)
 class PlaceholderPlugin(object):
diff --git a/server_addon/hiero/package.py b/server_addon/hiero/package.py
index cabe68eb68..54c2f74fa7 100644
--- a/server_addon/hiero/package.py
+++ b/server_addon/hiero/package.py
@@ -1,3 +1,3 @@
 name = "hiero"
 title = "Hiero"
-version = "0.1.2"
+version = "0.1.3"
diff --git a/server_addon/hiero/server/settings/imageio.py b/server_addon/hiero/server/settings/imageio.py
index f2bc71ac33..9e15e15597 100644
--- a/server_addon/hiero/server/settings/imageio.py
+++ b/server_addon/hiero/server/settings/imageio.py
@@ -149,15 +149,15 @@ class ImageIOSettings(BaseSettingsModel):
 
 DEFAULT_IMAGEIO_SETTINGS = {
     "workfile": {
-        "ocioConfigName": "nuke-default",
-        "workingSpace": "linear",
-        "viewerLut": "sRGB",
-        "eightBitLut": "sRGB",
-        "sixteenBitLut": "sRGB",
-        "logLut": "Cineon",
-        "floatLut": "linear",
-        "thumbnailLut": "sRGB",
-        "monitorOutLut": "sRGB"
+        "ocioConfigName": "aces_1.2",
+        "workingSpace": "role_scene_linear",
+        "viewerLut": "ACES/sRGB",
+        "eightBitLut": "role_matte_paint",
+        "sixteenBitLut": "role_texture_paint",
+        "logLut": "role_compositing_log",
+        "floatLut": "role_scene_linear",
+        "thumbnailLut": "ACES/sRGB",
+        "monitorOutLut": "ACES/sRGB"
     },
     "regexInputs": {
         "inputs": [
diff --git a/server_addon/nuke/package.py b/server_addon/nuke/package.py
index 9630c370bc..bf03c4e7e7 100644
--- a/server_addon/nuke/package.py
+++ b/server_addon/nuke/package.py
@@ -1,3 +1,3 @@
 name = "nuke"
 title = "Nuke"
-version = "0.1.10"
+version = "0.1.11"
diff --git a/server_addon/nuke/server/settings/imageio.py b/server_addon/nuke/server/settings/imageio.py
index 1b84457133..9cdb0bf1d7 100644
--- a/server_addon/nuke/server/settings/imageio.py
+++ b/server_addon/nuke/server/settings/imageio.py
@@ -97,8 +97,23 @@ class WorkfileColorspaceSettings(BaseSettingsModel):
     working_space: str = SettingsField(
         title="Working Space"
     )
-    thumbnail_space: str = SettingsField(
-        title="Thumbnail Space"
+    monitor_lut: str = SettingsField(
+        title="Thumbnails"
+    )
+    monitor_out_lut: str = SettingsField(
+        title="Monitor Out"
+    )
+    int_8_lut: str = SettingsField(
+        title="8-bit Files"
+    )
+    int_16_lut: str = SettingsField(
+        title="16-bit Files"
+    )
+    log_lut: str = SettingsField(
+        title="Log Files"
+    )
+    float_lut: str = SettingsField(
+        title="Float Files"
     )
 
 
@@ -120,6 +135,9 @@ class ViewProcessModel(BaseSettingsModel):
     viewerProcess: str = SettingsField(
         title="Viewer Process Name"
     )
+    output_transform: str = SettingsField(
+        title="Output Transform"
+    )
 
 
 class ImageIOConfigModel(BaseSettingsModel):
@@ -214,16 +232,23 @@ class ImageIOSettings(BaseSettingsModel):
 
 DEFAULT_IMAGEIO_SETTINGS = {
     "viewer": {
-        "viewerProcess": "sRGB (default)"
+        "viewerProcess": "ACES/sRGB",
+        "output_transform": "ACES/sRGB"
     },
     "baking": {
-        "viewerProcess": "rec709 (default)"
+        "viewerProcess": "ACES/Rec.709",
+        "output_transform": "ACES/Rec.709"
     },
     "workfile": {
         "color_management": "OCIO",
-        "native_ocio_config": "nuke-default",
-        "working_space": "scene_linear",
-        "thumbnail_space": "sRGB (default)",
+        "native_ocio_config": "aces_1.2",
+        "working_space": "role_scene_linear",
+        "monitor_lut": "ACES/sRGB",
+        "monitor_out_lut": "ACES/sRGB",
+        "int_8_lut": "role_matte_paint",
+        "int_16_lut": "role_texture_paint",
+        "log_lut": "role_compositing_log",
+        "float_lut": "role_scene_linear"
     },
     "nodes": {
         "required_nodes": [