It was all a big misunderstanding! (Pull request hasn’t hit the binary preview yet)
In your example you copy sRGB HEX color from Photoshop and enter it into Linear HEX color field in UE4. Also checkbox “sRGB” on top of window affects only preview rectangle - it does not change color itself. My pull-request (link above) adds additional field (selected on the screenshot below) which allows to copy sRGB HEX color from Photoshop and input it into UE4 without convertion.
My bad. I just opened the 4.9 preview 2 to check out your change and thought you had added the other hex box since it doesn’t appear they’ve added your change yet.
Ps. You’re an absolute star btw, great patch 
Is the color picker still broke/broke again? I’m on 4.9.2 and running into the same problems originally described and only see one hex box.
Hi Ayewyn -
The Commit to add the additional sRGB Hex box was not tested in time for a 4.9 release, you can get the commit from GitHub at the link above.
Thank You
Eric Ketchum
Thanks for the Reply. The link seems to be 404’d for me tho.
Hi Ayewyn -
You will need a GitHub Account to access the GitHub Commit. They are free and you will need to connect it to your Unreal Engine account to get access to the Engine Source. That is most likely the reason for the 404.
Thank You
Eric Ketchum
This was off a tiny bit for me but very close. Thank you so much!
this is not solved… and it’s driving me crazy… I’m doing something as simple as having the engine randomly pick a value… and the final color is not right… and is severely limited. A photoshop hex number is not helpful as I’m generating rgb values at random… unless I can randomly generate hex values… IS there a fix for this?
I mean there are literally millions of color combinations and all that ever appear are 8 or so solid 255 colors!