Thanks to a comment on reddit, this is now fixed!
If you are in 8-bit mode then the automatically manage colours for apps setting is off by default, it only turns on when switching to 10-bit, so you just have to turn that off. Seems this toggle got activated recently somehow, maybe from the recent Windows feature update as Ive had 24H2 since launch and never saw an issue until this recent Patch Tuesday:
If you are in 8-bit mode then the automatically manage colours for apps setting is off by default, it only turns on when switching to 10-bit, so you just have to turn that off. Seems this toggle got activated recently somehow, maybe from the recent Windows feature update as Ive had 24H2 since launch and never saw an issue until this recent Patch Tuesday: