Camera settings instead of RAW
It highly depends on your Bit-depth and scene and post-production. If you're trying to maximize for dynamic range and avoid clipping highlights for example, you should reduce contrast as much as possible (and also expose for the highlights). However, by doing that you might lose details in the midtones (separation of colors and luma), which might lead to banding issues after post-processing the footage (adding contrast and saturation), especially if you are recording 8-Bit per channel, which most consumer cameras do.
From my personal experience if you are recording 8-Bit you are probably better off getting your exposure as finished as possible in the camera and only do little post-processing to avoid banding or similar issue. If you're recording 10-Bit, you have way more information to play with and could use LOG profiles (which are another way of reducing contrast and saturation) instead.