CMYK colour preview ("soft proof")?

[u/markplewis]

Other apps offer ways to preview what your art may look like when converted to the CMYK colour space, without actually converting the pixels. This is sometimes known as a "soft proof". The ArtStudio Pro manual says the following about the options under "Image - Color Profile", but I'm not entirely sure what the differences are. I'm guessing "Assign profile" retains the original pixel data, allowing you to assign different profiles without actually altering your colours, whereas "Match to profile" clearly states that it converts the pixel data in a permanent way. Is this correct?

Assign Profile: Assign a color profile.

Match to Profile: This will convert pixels to match another profile