It is part of the AV1/2 video codec; for instance, it has been widely adopted too since 2018. https://arxiv.org/pdf/1711.03951
So do IETF early draft of the idea. https://datatracker.ietf.org/doc/draft-midtskogen-netvc-chro...
Give a read of the work if not:)
When you see the AV2 version, it’s very similar to h.266, which is more advanced than AV1 CfL: they are using filters that cover up to 6 luma pixels to determine the chroma baseline.
The algorithm described in this blog post is pretty close to what AV1 CfL does.
But, I looked at all the images and there is a consistent loss of red/yellow and gain of blue/green in the 0.5bpp versions. It's subtle, but noticeable on my mid-grade monitor.