Note: compression options has separate Pixel Format button.
It replaced old "video color depth to compressor" dialog.
What to select from Pixel Format button:
16bit pixel formats (RGB64, YUV420P16, ...) can carry up to 16 bits, but the actual number of used bits depends on codec options.
Integrated lossless video codecs:
FFMPEG FFV1
FFMPEG Huffyuv
Colorspace options for yuv can be used but these codecs do not store them, must select manually when decoding.
Integrated x264 codec fully supports colorspace options: if you select them from pixel format dialog they will be used to prepare video images, encoded in bitstream, retrieved and applied automatically when decoding.