iPhone 15 pro max display colors

I recently upgraded from iPhone 12 pro max to 15 pro max. I can see a difference in display colors. The color tones on my 12 pro max for some reason look a lot more comfortable than the 15 pro max. I have set the same wallpaper on both the phones, but the 15 pro max for some reason looks bluer and has a more cooler color temperature than the 12 pro max.

I have the same settings in both the phones, True Tone is turned on both devices, night shift is turned off.

In Accessibility I do not have any smart invert turned on.

3 year older iPhone's display looks more natural, has better colors.

What could possibly be the problem? I have upgraded recently and set the new phone up but still the 12 pro max's colors look more appealing.

I have tried capturing the difference that I'm talking about, left one is the 15 pro max and the right one is 12 pro max.

Please let me know what could be the possible reason for this.