Indeed some applications do not expose the many controls within their application. So for those, injected events are not very useful.
Yes, if you have a consistent screen location for your color wheel or any other control, it is possible to position the mouse, click, drag, and whatever with a MIDI knob or button. It is a bit of a trial and error but it has been known to work.
I personally do not use Davinci Resolve but I know other users here do so maybe they will chime in with some good examples. I think I did an example for someone using Capture One, so if you search on that, perhaps you can find the example and borrow ideas from it.
Steve Caldwell
Bome Q and A Moderator and
Independent Bome Consultant/Specialist
bome@sniz.biz