Transcoding 2.7k P3S video

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About to upgrade my Mac and get FCP X.

Can I use the FCP X transcode-on-import function to transcode to Prores 422? Or do I need an aftermarket transcoded?

Most of the posts here refer to P4P which is 4K but more importantly be H.265 which may be the difference requiring a third party transcoder.

Thanks!
 

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