I play D4 on PS4 and after the last update on my system (1.3.2.49764) the image has become extremely bright. When starting the game, the initial Lilith image (that is brought into fullscreen in the PS game start animation) looks fine, but when the game has loaded and the screen briefly goes black and then shows the image again, it looks very bright and pale. This persist through all startup animations and in the game. I also noticed that the “PRESS ANY BUTTON” text flickers somewhat as the shadow behind it reaches minimum opacity in its pulsating.
In the graphic settings, nothing makes much of a difference; when adjusting to as dark as possible compared to the default settings, the image is still very bright and pale. The dungeon example image to the left looks pretty ok, but the outdoor image in the middle is washed out and the snowy (?) image to the right is almost completely white when reset to default, and with only odd contours showing through the white when going for max darkness.
I cannot seem to find any recent posts on this and no old threads that describe the same issue in the same way on PS4.