There’s a bunch of different use cases sequencer tries to accommodate, thus the need for the camera cut track that indicates which camera to switch to.
The simplest case would be to have your cameras in the persistent level or an always loaded level and then bind them to sequencer as possessables.
If you want to put together a test case, you can submit the bug report here:
[Report a Bug - Unreal Engine][1]
As far as the “Allow Cinematic Control” toggle, that’s this here in the viewport:
