Comment by adrian_b

You are right that I have not mentioned this, but indeed wide color gamut monitors should also support 10 bit or better resolution per color component.

Software that does color processing should convert all input pixel formats into BT.2020 linear FP16 color components, do whatever processing is desired and convert from linear FP16 to whatever pixel format is sent directly to the monitor through DisplayPort/HDMI, as the last step.

I have not looked on the market to see how widespread are different kinds of monitor specifications nowadays.

I am using relatively cheap monitors, but not the cheapest, e.g. some common types of Dell monitors. There are more than ten years since my minimal requirements for a monitor have been 4k resolution, 10-bit color components and Display P3 color gamut and 60 Hz at 4k and 10-bit.

So I believe that, especially after a decade, it is easy to satisfy these minimal requirements or better, except that not everybody checks the monitor specifications when they buy one.