M1 MacBook Air unable to display 60hz on any resolution to LG27UD68
I have a M1 MacBook Air that was working well with a 4k 60hz external LG Display(LG27UD68). I recently updated to Ventura and now it is unable to display at 60hz at any resolution. The quality of the image is also significantly degraded and I notice that when I use the option key and select the monitor it show that the resolution is 3840 x 2160(low resolution). I've tried restarting my MacBook and reseting the cache but nothing seems to be fixing this. Is this a bug?
MacBook Air 13″, macOS 13.0