FYI currently the HDMI out forces HDR like the main display. It actually doesn’t look right on my LG OLED, so something is a bit strange.
I don’t see the option in Dev or Display (grayed out) to turn it off. I did see a valve post that you can’t currently disable HDR on the OLED in steam os, so I assume it’s related.
Try changing the USB setting in BIOS. I saw that fix it for some folks.