That was precisely the first thing I tried when I first created the SetSlotColor node, with undesirable results. I created the Slate to Linear function to try and fix the issue with the colors that resulted from doing the most obvious solution first, as you will see in the following screenshots.
As you can see, I am skipping both the Unreal gamma correction node and the white lerp.
Here are the results:
What I want is for the color in the doll to match the color of the color selection UI. What I need is a linear color equivalent of the color displayed in the UI, which is what I expected of the Linear Color Set from Pow 22 node, but not what I got from it - in fact I believe this node does the opposite of what I had initially thought. Which is why I then added the white lerp node. Which helps getting the color closer in brightness level, but does not help with hue or saturation.
Visually the linear color you get from the Break Slate Color node is the color you see when you turn off the sRGB preview in the Unreal color picker window. I need a linear color that looks like the sRGB enabled preview.
@Harald after seeing your observation I decided to make the math conversion instead of relying on Unreal's conversion node. The results are far better but because the math node in Unreal only takes a float I can't get enough precision to make it better. Perhaps I should make the conversion in C++ and make a blueprint node for it for greater precision. Colors are very close, not exactly the same, though most people might not notice a difference.
That said this is the closest I have managed so far.
Here are the screenshots of the new conversion and results: