When running at 4K/UHD or 1080p/HD at 50 Hz or above, the colours are displayed correctly with proper black. However, when changing framerate to 24Hz or lower, the colours look washed out and the blacks are dark grey. It looks almost like I turned on limited colour space (which is not on).
This happens both when I switch framerate in GUI or start a movie with 24 fps or lower. It also happens when playing HDR content.
I have also tried the latest nightly with same results.
Debug logs here: http://ix.io/4pUt
Log files are recorded while switching from 4K 50 Hz to 24 Hz and back again in System settings.
Running latest Kodi on Windows 11 on the same machine works fine, no colour problems there.