Thank you. Your reply got me thinking so I decided to tweak both the display and the AppleTV looking for a solution.
First, the Samsung display is a fairly old model, about 5 years I think, but it is 4K-HDR capable. The AppleTV is fairly new about a year I think.
I first tried the display and turned off the HDR, set the Picture Mode to Movie (unavailable in HDR). This improved the overall picture considerably but still not up to par with the PS5. I could find no selection for YCbCr for HDMI output.
So next the AppleTV, where format was set to 4K HDR. I could not find any HDMI output adjustments. I changed the format to 4K SDR. Eureka, I see HDMI output selections for RGB High, RGB low, YCbCr. It was already on YCbCr. The brightness of the scene is now equal to the PS5 or maybe even higher. But it lacks color...not enough, pretty dingy. Thus, I went back to the Samsung TV and set it back to HDR. This restored the color. So now my AppleTV looks just as good as my PS5.
What bothers me though...why doesn't it work better on 4K HDR?
Oh yes, I noticed that on my Display, the Gamma has changed to BT.1886 with the AppleTV 4K-SDR setting. With the 4K HDR setting it wouldn't stay on BT.1886 and instead switch back to ST.2084.
I guess it's problem solved.