Interesting subject. My bench lights are Philips Hue lights that I can control the color on. I generally set them to ~6500K for any modeling work, the Google command "set the lights to daylight" gets you this setting. It's also the temperature that I photograph my models at. Only difference is I diffuse the light with a photo booth when taking photos. Can't remember the last time I had to color adjust in post photo editing the Kelvin for a photo. Usually it's the exposure and ISO that need a little bit of tweaking.
I've not noticed an issue with model competition lighting. Specifically here in the US, florescent 4-tube lights are between 4100-6500K. So, pretty close to what I model at. Generally, the paint is the paint color. The different temperature lights will have the same effect for all the different models at the competition. So, level playing field? Hopefully, the judges understand and don't go all crazy about a color being slightly off based on warmer or cooler ambient lighting.
Example of photo with zero edits, as shot from my bench, without diffusing.
Example of photo with kelvin as shot, exposure adjusted and ISO slightly adjusted, with diffused lights.
As shot, from the model competition place, no adjustments.
Unfortunately my spray booth has lights that aren't conducive to photos. They're on the high end of the the kelvin scale, maybe around 9000K if I had to guess. Never has changed how I sprayed stuff. Only big problem is if I'm blending similar colors, I may need to get the model out of the lights to maker sure the blend is going well.
With real subjects, we also gets lots of variation based on light. This is from an airshow about a month ago. Photos occurred about 45 seconds apart. As shot, with no adjustments.
Historical reference photo. Note a lot of WWII photos have a very weird hues due to the Kodachrome film if they were originally shot in color. This photo I think was colorized after the fact.
Model version of same thing with exposure and ISO adjustments.
All that to say, I just paint my models to make me happy. If they look good on my display shelf, that's good enough for me.