Safari doesn't support VP9 (Google's latest codec competing with HEVC/H.265). Safari must be using the H.264 version of the videos that are only encoded up to 1440p (2.5K) with H.264. (Internet Explorer is the only other major browser that doesn't support VP9, it has been discontinued anyway.)
I took screen shots of the same frame (of same video, obviously) with Safari and Chrome on my Retina MacBook Pro 15-inch (2880x1800 screen resolution, and 3360x2100 screenshot resolution). Safari was limited to 2.5K 1440p, Chrome shows 4K 2160p, yet the color itself is different. The VP9 in Chrome looks washed out or just plain brighter without as much dark detail. Safari looks much better even without the higher resolution, this supports the argument that HDR is more important than higher resolution.
Is this a true difference in the Codec, VP9 vs H.264? Or is it just the different way Chrome and Safari show colors?
I also compared Chrome's 1440p version and it still looks washed out compared to Safari. (But it is likely the same VP9 encoded version of the video, so that doesn't mean anything to look at the same resolution.) I would be shocked if the different codecs really have differing color with everything else being equal.
Safari: (resampled to 1440x900)

Chrome: (resampled to 1440x900)

It helps to download the images and switch between them in place to see the color difference.