You can use Table 310.15(B)(7) allowable ampacity as the value which adjustment and correction factors, if any will apply. However, refer to 310.15(A)(2) and the Informational Note thereto. What it means is that the circuit ampacity is limited to the lesser of your adjusted and corrected conductor ampacity or the terminal temperature rating equivalent for the size used under Table 310.15(B)(16).
For example, say your 500kcmil conductors are rated 90?C and copper... and let's say there is no adjustment and correction, plus they run entirely in cable tray between termination enclosures. Ampacity under T310.15(B)(17) is 620A. The terminations are rated 75?C. This will limit your circuit ampacity to the 75?C column of Table 310.15(B)(16) for 500kcmil copper conductors, which is 380A. There are ways to bet around this limitation...