There's no 'real answer', since this isn't defined in any Standard or regulations. Those (probably the majority) who advocate using grey do so (I think) solely because they do not want to perpetuate memories of the days when black indicated neutral - which seems, to me, to be a fairly lame reason!
As I've said, the problem is that the Standards/regs about identification colours do not (to some extent necessarily) take into account the purpose for which a cable is going go be used. In an ideal world, if a particular type/size of cable was very commonly going to be used for an application which required a neutral, it would be available in a version in which one of its cores was blue.
Kind Regards, John
Blue was always on a 3 core+e cable. Not set in stone, but everyone used that. Old blue = new grey. Look at the structure of a cable. Look at NIC guidance. Look at the info distributed to wholesalers between 2004 and 2006.
No logical guidance to use black as neutral, only some misguided belief that 'black was always neutral'.
How would it be done in the rest of Europe? Some European PIRs and the like give us a good idea.
Anyhow, we discuss this too much, there are pages of it tucked away over the years on this forum.