The short answer is: You don't pick a color space for your RAW material based on what kind of monitor you're using.
A color pipeline is a very complicated series of mathematical conversions, which is heavily dependent upon:
- The operating system's color management settings, such as .icc device profiles from manufacturers, and/or calibration software.
- The file recorded by your camera; what settings were used to write the file, the lighting conditions on set, the monitoring conditions on set, whether any in-camera "looks" were used when the file was created, whether those looks should be present in the final image, etc.
- Your NLE's color management and monitoring settings
- Your viewing environment. The light levels and color temperature of a color grading suite are standardized by SMTPE, as well as the color of surrounding walls and furniture.
- The destination format, monitoring conditions, and viewing environment. Where do you plan to show your work? YouTube? Then rec.709 is probably a safe choice for destination format, but you could still use a larger working color space. But if you're delivering a feature film to DCI-P3, upstream rec.709 would be a bottleneck. The same goes for HDR, which is an entirely different beast.
So, without more information about these factors, and what you're trying to accomplish, there's no right or wrong answer at this stage. The choice you're presented with is essentially: Which working color space do you want to use for the interpretation of your camera RAW file? As long as this space is larger than what you intend to deliver, then you could use any of them. If you're delivering to the internet, using the most common space, then they're all large enough. OTOH, if you will be the only person watching the output and you want it to look the best it can look on your new monitor, then use a space that's as large as your monitor is capable of reproducing, or larger.
Gamma is a different, but similar question. You don't use a gamma "large enough" to contain a certain set of values like you do with color space. But the "correct" gamma to chose is dependent upon the gamma your monitor is currently displaying, and the gamma of your destination material. Ideally, you'd set your monitor to be the same gamma and color space as your intended target. Here, let me stress, I'm talking about your MONITORING gamma matching your destination format. But your working gamma (the menu item you're asking about) could still be any gamma, or it could be log encoded, or even linear (especially for VFX compositing).
