RAW and JPEG can look different because they are not the same kind of file, even when captured from the same exposure.

A JPEG is already processed in-camera: the camera applies its own color rendering, tone, contrast, white balance, and other settings, then saves a finished image.

A RAW file is not a finished image. It contains the sensor data and must be interpreted by software. Lightroom uses its own RAW processing/rendering engine, which may produce different color, contrast, and saturation than the camera’s JPEG engine.

So the mismatch is normal. Your Adobe RGB setting mainly affects the JPEG and other rendered output; the RAW still depends on how the converter interprets it. In short, the color difference is caused by different processing pipelines: camera processing for JPEG versus Lightroom’s rendering of the RAW file.