AW2725DF, HDR washed out on Switch 2

I recently got a Switch 2 but the colours on my AW2725DF monitor are diluted and washed out when I turn on HDR. SDR looks great, and HDR colours look normal on my QLED TV. I've made sure I have calibrated HDR correctly in the Switch 2 settings. Is there something I'm doing wrong? Any help would be appreciated!

I've posted some SDR vs HDR comparison shots below, including what settings I'm currently using.