It doesn't seem likely that there will be. There are no .CR3 camera matching profiles for Lr/ACR.
Color Fidelity makes custom profiles. I have the profile for the 1D X Mark III and it is good.
Glenn Bartley has an R5 setup guide that includes his custom settings for the R5; it involves use of the Color Fidelity profile.
I used those settings fro a custom profile for my 1D X; it produces a nice starting image.
There is something going on between Canon and Adobe relative to the .CR3 camera matching profiles. It is unclear from reading web traffic where the problem lies - i.e. Canon or Adobe.
It has not been resolved. There are no Camera Matching profiles for any .CR3 cameras except the EOS R. And reportedly that is only because it is the same sensor as the 5D Mark IV. There are only Adobe profiles and it seems like a lot of folks don’t like the Adobe profiles.
I'Ve been holding back from an R5.R6 because of this issue, which confuses the devil out of me.
Are you saying that Adobe LR/PS can open CR# files, but the color rendering isn't all that great?
Can't I create my own color profile using ColorChecker? I can do so for my other camera bodies. I can match colors between different bodies under similar shooting conditions very closely, almost exactly.
I’m not saying there is anything wrong with the Adobe profiles, but a lot of web traffic says that.
As far as what the issue is, go to the profiles section in Lightroom for a .CR2 camera. You will see Adobe Profiles and Camera Matching Profiles. The Camera Matching profiles are supposed to exactly emulate the Canon Picture Styles whereas the Adobe profiles (I have read) are Adobe’s decision on a look and they are designed to be consistent across cameras. For .CR3 bodies there are no Camera Matching profiles, just Adobe.
One could create their own profiles using the Color Checker.
I personally think it is primarily much ado about nothing.
There are people who prefer Lightroom, others who prefer Capture 1 or DxO PL4 for the way the convert RAW files.
In the case of Canon there are folks who say that Lightroom does a better job of conversion than Canon DPP. Technically that is incorrect. By definitiuon, DPP with create the most accurate convedrsion because only Canon really knows the intracasies of their sensors - DPP creates the conversion that canon intended.
That doesn't alter the fact that some folks might find another product more pleasing. That is a personal preference.
Yoiu can download some R5 RAW files here and see how you like how they look in LrC.