Assign Profile vs Convert to Profile for wide-gamut edits before production

Goal is to deliver a Photoshop file edited in a wide-gamut working space that reproduces consistently in a production workflow with a defined destination profile.

The constraint is whether the production system expects the original pixel numbers with a corrected profile tag or expects numbers baked through Photoshop's color engine. Assign Profile only changes the tag and reinterprets numbers, while Convert to Profile transforms numbers using rendering intent and black-point compensation set in Color Settings.

Without a clear agreement on source profile, destination profile, rendering intent and whether the RIP will perform its own conversion, the choice between retagging and baking is unresolved.

Which approach preserves the intended appearance when the production path may or may not perform a color conversion? Does converting in Photoshop risk double conversion if the RIP also converts? How should rendering intent and black-point compensation be agreed upon before deciding between Assign Profile and Convert to Profile?