The Channel Combiner is unfortunately still only 8bit and will disregard any masks on a layer, so if you want to do an accurate unmult with higher bitdepth with native AE tools then you need to first in a precomp do your own Max RGB.Â
Seperating the footage in 3 layers, shifting each color channel into each of the other channel to get a full Red a full Green and a full Blue, then comp them with the Lighten blend mode and you will get the MaxRGB for that image. This precomp you use as an secondary input in a Set Matte effect on the original image and set "use for matte" to "luminance", and end with using Remove Color Matting... So much easier if we had a simple native Unmult effect :-/
to make it a bit simpler to understand the steps above you can download an .aep file here: