I don't know how to hwRender with color management. Instead of hwRender, you can use ogsRender and createImageFormats. Below is a sample code.
import maya.app.general.createImageFormats as createImageFormats
formatManager = createImageFormats.ImageFormats()
# Set Render Mode for ogsRender
# Same as "Render Settings > Maya Hardware 2.0 > Render Options"
cmds.setAttr('hardwareRenderingGlobals.renderMode', 4)
cmds.setAttr('hardwareRenderingGlobals.lightingMode', 0)
# ogsRender needs a Render View. (Open Render View)
mel.eval('RenderViewWindow')
# Execute ogsRender. (The temporary image will be saved to local)
tmp_image_path = cmds.ogsRender(cam='persp')
# Render View stores the result of ogsRender separately from a temporary image.
# Temporarily override the save settings and save a image with color management.
formatManager.pushRenderGlobalsForDesc('PNG')
cmds.renderWindowEditor('renderView', e=1, colorManage=1, writeImage='....your_image_path.png')
# Resume from override.
formatManager.popRenderGlobals()
# Delete the image created by ogsRender.
import os
os.remove(tmp_image_path)
And to check the type of image format, execute below the code.
print(formatManager.listFormats(createImageFormats.ImageDescriptor.kIsImage, createImageFormats.ImageDescriptor.filterFormat))