This a fast freediving ascent to surface from depth 60ft.
So there are quick color changes from "almost no-reds" to "almost normal".
GoPro (which was set to auto white balance) is dramatically changing colors a few times - see at 0:08 and 0:12...
I would like to color-correct the whole cut to make it look like at the end (see 0:16).
Besides obvious "add reds" grading - how would you deal with the floatng white balance?
[I work in Premiere and After Effects with standard coloring tools and Colorista II...]
I'd be radical and tint it to almost black and white and then add some of the blueish color back in with curves. For the blown-out white you'll probably have to animate the levels white output to be less than white (match the desired white level at 0:16).
Another problem will arise: There's going to be a clear break going into those flat white areas, which you'll have to deal with. Perhaps a subtle overlay from later on in the video. Or a glow effect, or even animated fractal noise. Or a combination of several effects.
Set a levels effect with only one keyframe level for the entire clip. It will limit the output to where you set them. So review the clip and pick your prefered black and white levels and gamma, set and enjoy.