The latest PS update appears to have fixed it for me. I'm still running OSX Mojave

I just upgraded PS 22.3.1. as suggested and the bug is not fixed at all.

Hey Adobe. Lots of disgruntled customers suffering from a workflow and productivity perspective.
I feel a class action coming on!

I am experiencing the same issue, over and over again... though my monthly subscription is getting paid on time...
But it makes me feel better to remember when with an older AI version i experienced a way more frustrating situation. When i saved a pdf it did not replace the older one!
I was very lucky to discover it just in time before sending the wrong pdf to the offset printer...

Keep on the good work adobe!

I haven't really noticed an issue in Photoshop, but I am going back to Illustrator 2020 to see if that helps.

I don't know what's worse, that this is still an issue after a MONTH, or watching paying customers beg and plead politely for Adobe to resolve this. Adobe's near monopoly on prepress software is stifling and their complacency is unforgivable as something like this happens with every update.

I've had a $52.99/mo, all apps subscription for 7 years, and just now I went to cancel my plan, giving this issue as the reason for cancelling. They offered me $29.99/mo, all apps for 1 year so I took them up on it. A year ago when I attempted cancellation for a workflow-crushing Photoshop issue, they offered me 2 months free, so I stayed. (That issue has yet to be resolved... so, yeah...)

Suggestion to the fine, frustrated peoples in this thread: as a protest, or as a way to feel better about suffering the unnecessarily prolonged indignities of broken updates and missing features, go through the cancellation process and see what Adobe offers you as a sweetener to stay.

I believe you have the option to "cancel" your cancellation before it becomes final in case they don't offer you staying incentive, but I don't know for sure, because both times I was offered options before getting to a page that made my cancellation final. Happy for them to beg for my business, since I have to beg for them not to break sh!t.

Post your results to encourage others if successful, and possibly light a fire under Adobe's butt to resolve these frustrating glitches quickly. (re-posted to add evidence of success)

This color issue altogether stinks, but the worst part is that even after changing the color setting in a document, the next time you open it, it doesn't retain the settings you gave it. And on Friday I was working in a document, stopped and went to Excel and my email, back to the document and the setting had changed. All my blues were purple. And I had not even closed Illustrator.

So what I'm saying here to the Adobe engineering team is that the issue happens randomly with the program open too. This is very disheartening because it truly means we cannot count on our monitors at all for color information at this point.

Adobe, please ask your engineering team to put this on at the top of the list for fixes. The only thing that could possibly be worse at this point is everything in the document showing up in grayscale even when we add color value to it.

This is an absolute ball-ache and unacceptable.

I am having the same issue since I updated to Illustrator 2021 & Photoshop 2021. My colours keep defaulting to CS6 and go neon if I open Photoshop 22.3.0 as well as Illustrator 25.2.1. Have to close, reset colour and reopen to fix. Sometimes have to restart Illustrator.

This is unacceptable, I run a busy art department and cannot afford to have Illustrator being relaunched and jobs being reopened more than once in order to get work out for Press. Adobe, please sort this problem out. It is counter productive and annoying, considering the amount of money we pay to use your Applications. Thank you, kind regards

23 Apr 2021 - SORTED, thanks, Adobe, since the latest update to Photoshop 22.3.1. (Running Catalina 10.15.7 on the Mac)

Stop pushing out updates that haven't been adequately tested. This is irresponsible coming from a company that holds the monopoly on prepress software.

I've since edited my color settings in Bridge and restarted the app, then uninstalled Photoshop 22.3, reinstalled and started the 22.2 version, dumped the ACEConfigCache2.lst and restarted Illustrator to open an archived file, prompting the message "Your current color settings discard CMYK profiles in linked content but profiles were set to be honored when this document was created."

I *hope* this means that my CMYK print files will work for the printshop — if anyone know if this will create problems for the printer, please let me know!

I've fixed this problem on short term. It's Photoshop 22.3 who causes the switching colorsetting problem.
What I did is just close Photoshop 2021 (you don't have to unistall it) and reistall Photoshop 2020 and work in the 2020 version.  I have no longer this problem anymore. Mention; I don't use Adobe Bridge.

Got the same problem and it drives me crazy. Looks like its been like this for over a month now, and still Adobe can't fix it. Adobe should we really pay for this?!?, you got so manny buggs now it's crazy feels like the professional stamp is gone. And the "Copy from Illustrator, and pasted in to Photoshop" still is a major problem. Adobe wake up!!!

Hey Adobe Team ! Please take it serious and fix it ASAP ! Very annoying and make me mad.

OMG fix this! it's making me insane and a client print job just ran hotter that a MFer. This is not acceptable when we all pay for Creative Cloud and can't backtrack to a version that works.

Olá...isso é mais sério do que todos achamos. Sem concorrências a Adobe faz o que acha melhor e quando temos problemas, eles não estão nem aí, não é como uma operadora móvel, dá pau você muda para outra!

I have the same issue and it's going to make me mad. How long will you fix this issue, Adobe? =(((

I uninstalled and installed different versions of Ai and Ps three times. I'm in shock ((((((

I have been dealing with this issue of defaulting to emulation of Illustrator 6 ever since upgrading to Big Sur, and using the latest versions of Illustrator with Photoshop. I have to remember to manually fix the output values every time before turning my files over to the printer to avoid an overall reddish cast.

Please fix this problem as quickly as possible. Thanks.

Three weeks later and this is STILL happening. It's seriously annoying.

Colors are right on Illustrator Home page and wrooooong once the file is opened this is such an headache