I am wondering what the Scene View uses for it's colourspace when a background image is turned on on the camera?

I have a backplate in ACES2065-1 and am trying to convert it into a jpg sequence for the background image. I'm using Output - sRGB as the colourspace that gets baked into the jpg. When I put this on the background image, it looks wrong. I suspect Houdini is doing an automatic linear conversion that in this case I don't want but there doesn't seem to be a way to turn it off. If I export my sequence as ACEScg exrs everything is fine but the files are much bigger hence my desire to use jpgs.

Am I missing some setting here?