Most OLED displays have an ABL (Auto Brightness Limiter) in their settings that is either possible to be disabled (but hidden really well or needs specific ways to access), or permanently on.
Typically speaking, it's most aggressive on HDR settings it is not native at. The AW3423DWF for example, can have full screen white no problem, the fan will kick in eventually, but it will be fine with HDR set at HDR400 True Black even with full screen white. But the moment you attempt it at HDR1000, the ABL will kick in really quickly and turn everything grey and washed out to prevent screen damage.
If you can't find the setting to turn off (as not all displays permit you to do so), you can try and locate the no ABL version of HDR on your display and swtich to that.