I think it is being applied (because otherwise the image would look more distorted) - but can you confirm ?
Screen shot shows the Lens Correction Panel - which should indicate it is being automatically applied.
Configuration :: MacPro (Late 2013), 32gb ram, 512gb PCIe, MacOs High Sierra 10.13.4
Camera Olympus OM-D, EM-1 Mk II with 12-100mm F4 (MFT package)
So, if you have a folder of MFT files, why not try it and see if you can re-produce this ?????
So what I was asking is for anybody else to upload a 4/3 raw file from their cameras - preferably a different manufacturer like Lumix, to ensure it is not a setting in my Catalog or Profile settings. I can assure you that older ORF files on my system (Catalog) are now exhibiting this fault (even with an EM-1 Mk I), and same files from other people I have using Lumix and other Mk II's. So, there IS an issue here - but I would like to have you confirm it with your Catalog.
Here's a link to an ORF on DropBox that you may import. OLY EM-1 Mk II.
And here is a screen shot showing you the full details of the shot as it appears on my Catalog.
My Preferences as regards linking "Defaults" to specific camera models and/or ISO's are not checked - nor have they EVER been. So this is consistent over many releases.
And I should re-iterate that I observed an intermittent example of this behaviour when, for some moment, the report of the Profile DID appear in the sub-panel ... then subsequently did not.
Finally, I suspect this is an issue somewhere with Profiles. I have spent some time selecting and changing different ADOBE supplied Profiles and it remains the same.
What I noticed when comparing Catalogs with my laptop is that the message "(I) Builtin Lens Profile Applied" fails to display if you have "[ ] Use Smart previews instead of Originals ...." ticked but you do NOT have the Smart Previews generated - which can happen if you don't routinely generate them on IMPORT.
Flicking the option ON / OFF in Preferences and alternating back and forth between images in the Film Strip while in Develop will cause the message to be correctly/in-correctly displayed. When the Smart Previews are present, the information is displayed correctly.
The lack of built-in message is technically correct IF the smart-preview has the camera-supplied lens-correction op-codes applied before the creation of the reduced-size smart preview and the lens-correction op-codes are deleted from the metadata to save space, then there'd be no way to know from the smart-preview that a built-in lens-profile had been applied, without Adobe adding back a flag that says it has.
Does Adobe's desire for a consistent experience with smart previews vs original raws (always displaying the built-in message) outweigh optimizing efficiency by not having to flag each smart preview merely to tell us a built-in lens profile was applied before the smart preview was created.
What does Adobe do, now, for DNGs that are created as a result of the Panorama process from MFT-camera raws, do they say a built-in lens profile has been applied, or not? Obviously for a panorama a lens profile wouldn't be applicable anymore despite the image data being raw-ish because the aspect ratio is different and the source raw data has been warped to match things for stitching.
Now if smart previews still have lens-correction op-codes and they are being applied each time by LR, then the lack of message is more of a bug. I suspect this is not the case.
"What I noticed when comparing Catalogs with my laptop is that the message "(I) Builtin Lens Profile Applied" fails to display if you have "[ ] Use Smart previews instead of Originals ...." ticked but you do NOT have the Smart Previews generated - which can happen if you don't routinely generate them on IMPORT."
"Flicking the option ON / OFF in Preferences and alternating back and forth between images in the Film Strip while in Develop will cause the message to be correctly/in-correctly displayed. When the Smart Previews are present, the information is displayed correctly."
So the issue in question is whether or not the 'Built-in Lens Profile applied' message should be displayed when a Smart Preview has NOT been created when 'Use Smart previews instead of Originals' has been checked in Preferences. For consistency it makes sense to display the message whether or not the Smart Preview exists. It can't be turned off in the Lens Corrections panel so it should always be displayed.
BTW- I checked a Canon G9X MKII CR2 file's Smart Preview DNG file in Rawdigger and the Lens Profile is applied BEFORE the DNG file is created as you suspected.