For the sake of clarity, the ProRes 4444 and 4444XQ files that typically recorded on the Arri Alexa are 12-bit files. While it's possible to record lower quality files I don't know why anyone would for anything important, especially if you are using Log C encoding.
https://forum.arri.com/viewtopic.php?f=105&t=127
I recall from various sources that ProRes 422 (+HQ)(10-bit log encoded) being used for Alexa as the sweet spot for quality and file size for the most common use e.g. television production. Where high end film uses ARRIRAW (but not always- 4444 XQ used too).
One example: https://blog.frame.io/2018/04/02/arri-workflow-premiere/
For those with cameras that shoot more that 10-bits- try shooting something challenging e.g. a high dynamic range scene with lots of blue sky and important shadows and compare to 10-bit (both using log) then compare the results and post them if you find differences. Green/blue-screen with fine blonde hair is another area where more than 10 bits can help with keying. For ‘normal’ shots e.g. as used for TV, commercials, docs, news, not likely to see an advantage using greater than 10-bit log (even 8-bit goes a long way when shot for ‘look in camera’: I replaced my 12-bit C300 II with the 8-bit 1DX II with a custom picture style as ‘A camera’ (max DR non log)) and it works great (shot for mostly in camera looks with very minor post work needed).
