Disney and Prime app show washed out colors with 4K HDR content on 4K SDR screen

I noticed that HDR colors appear washed out on 4K SDR screens when dynamic range matching is turned on (B&O Horizon tv in my case). Apple movie 4K content with Dolby Vision looks fine with the same setup.

To solve this in Disney+ and Prime, dynamic range matching needs to be turned off. Not sure if Apple didn't document this correctly for streaming providers or if dynamic range matching shouldn't be enabled in general in combination with a SDR 4K screen setting.