As I understand it, the Color Depth reported in the Project Media window should be a summation of the bit-depth per red, green, blue and alpha channel.
Hence I have DV .avi files which are correctly reported as "24" (R8+G8+B8) and Cineform .avi files which are correctly reported as "32" (R8+G8+B8+A8).
However my HDV .m2t files and my UHD .mp4 files are reported as "12", when they should be "24". And now 10-bit HEVC files are reported as "15", when they should be "30" (R10+G10+B10) (thank you @D7K for spotting this).
To add to the confusion, the color depth is wrongly reported as "32" for both 8 and 10-bit HEVC in the Attributes section Media Properties. e.g. "1920x1088x32"
Any explanation for this or is it simply a bug?
If this is a bug, it's been with us since at least VP10.
To see the "Color Depth" column, right-click on a column header in the Project Media window and choose View.