I think with Windows 11 it's a little easier now. At least, I don't have to do this for playing games in HDR. But I can't take screenshots or record videos this way using most built-in tools. Like window's screencapture tools and steams tools.
https://www.elevenforum.com/t/enable-or-disable-hdr-screensh...
It's actually a setting in snipping tool (unbelievably)