Hi @mujabad.
Happy new year and sorry for not answering during the holidays.
If the input image is a RAW image, independently of the color space you selected in your camera, the raw input colors are neither in AdobeRGB nor in sRGB, but in the native color space of the sensor of your camera. In that case, PhotoLab converts the sensor colors to AdobeRGB and uses that as working color space. This cannot be configured. During export, you can choose between “as shot” (which converts to the color space you set on your camera) and converting to sRGB, AdobeRGB, or any other color space explicitly. Note that for AdobeRGB, no conversion takes place.
If the input image is an RGB image (typically JPEG), depending on the color space you selected in your camera, the input colors are in fact either sRGB or AdobeRGB. In that case, PhotoLab uses this color space as working color space. And again, this cannot be configured directly (only indirectly by converting the image to another color space using a 3rd party utility before opening it in PhotoLab). During export, “as shot” now means no conversion.
For display, you should use the color profile of your screen. I cannot find the option in Preferences --> Display --> Common on my Mac, so I suppose that the Mac version implicitly uses “Current profile of the display device”.
Have fun using PhotoLab on your new screen.