HDR is no longer working on my Macbook Pro M1 Max

HDR is no longer working on my Macbook Pro M1 Max with the laptop Apple XDR Display but does work on my Macbook Pro M4 Pro with the same display. I recently upgraded the M1 Max to Tahoe 26.2 and noticed it, the M4 Pro is also running Tahoe 26.2.

Interestingly, I noticed that the on Youtube HDR content (in Chrome) if I hover over a part of the video the preview does seem to look in HDR even though the video itself is very dull in comparison.

See screenshots below.