color encoding not working correctly on kinect rgb images

[AR-Vsx]

Hi, I'm trying to render Pointclouds from Depth and RGB images which are captured by the azure kinect dk.
While using the compute buffer method of the PointCloudRenderer the positions are rendered correctly but the color encoding isn't working correctly.

This is the compute shader I'm using:

#pragma kernel BakeVertexTex

uint2 DepthRes;
float2 DepthScale;

uint MinDepth;
uint MaxDepth;

StructuredBuffer<float> SpaceTable;
StructuredBuffer<uint> DepthMap;

RWStructuredBuffer<float4> PointCloudVertexBuffer;
RWTexture2D<float4> ColorRenderTexture;

[numthreads(8, 8, 1)]
void BakeVertexTex(uint3 id : SV_DispatchThreadID)
{
        //point position calculation
	uint i = id.x + id.y * DepthRes.x;

	//bool isOdd = i % 2 == 1;
	//uint iDepth2 = DepthMap[i >> 1];
	//uint iDepth = (isOdd ? iDepth2 <<= 16 : iDepth2) >> 16;

	uint depth2 = DepthMap[i >> 1];
	uint depth = (i % 2 == 0 ? depth2 <<= 16 : depth2) >> 16;
	depth = depth >= MinDepth && depth <= MaxDepth ? depth : 0;

	float fDepth = (float)depth / 1000;
	bool mask = depth != 0;

	float3 pos = float3(
		SpaceTable[i * 3] * fDepth * DepthScale.x,
		SpaceTable[i * 3 + 1] * fDepth * DepthScale.y,
		mask ? fDepth : 1000
		);

        //Color Encoding
	half3 rgb = asuint(ColorRenderTexture[id.xy]);

	half y = max(max(rgb.r, rgb.g), rgb.b);
	y = clamp(ceil(y * 255 / 16), 1, 255);
	rgb *= 255 * 255 / (y * 16);
	uint4 n = half4(rgb, y);
	uint m = ((uint)rgb.r) | ((uint)rgb.g << 8) | ((uint)rgb.b << 16) | ((uint)y << 24);
        
        //Write position and color in output buffer
	PointCloudVertexBuffer[i] = float4(pos, m);
}

Shader dispatch:

        SetComputeBufferData(pointCloudDepthBuffer, depthImage, depthImage.Length >> 1, sizeof(uint));
        SetComputeShaderInt2(pointCloudVertexShader, "DepthRes", width, height);
        SetComputeShaderFloat2(pointCloudVertexShader, "DepthScale", -1, -1);

        pointCloudVertexShader.SetInt("MinDepth", (int)(0.5f * 1000f));
        pointCloudVertexShader.SetInt("MaxDepth", (int)(10 * 1000f));
        pointCloudVertexShader.SetBuffer(pointCloudVertexKernel, "SpaceTable", pointCloudSpaceBuffer);
        pointCloudVertexShader.SetBuffer(pointCloudVertexKernel, "DepthMap", pointCloudDepthBuffer);
        pointCloudVertexShader.SetBuffer(pointCloudVertexKernel, "PointCloudVertexBuffer", pointCloudVertexBuffer);
        pointCloudVertexShader.SetBuffer(pointCloudVertexKernel, "PointCloudColorBuffer", pointCloudColorBuffer);
        pointCloudVertexShader.SetTexture(pointCloudVertexKernel, "ColorRenderTexture", colorRenderTexture);
        pointCloudVertexShader.Dispatch(pointCloudVertexKernel, width / 8, height / 8, 1);

        PointCloudRenderer.Instance.sourceBuffer = pointCloudVertexBuffer;

I took the color encoding part from the common.cginc of this project.

This is the result when using the PointCloudRenderer with the PointCloudVertexBuffer:

I've confirmed that the ColorRenderTexture is displayed correctly and the render texture format is ARGB32.
I've tried switching the channels around but no luck so far.