Notifications still seem to mess it up and show the black screen for a sec.
Also if an app like spotify is running the volume overlay is still showing when changing volume.
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*UPDATE* March 2021
It appears there is light at the end of the tunnel. MS is working on enhancing the HDR feature on Windows 10 to another level. With that there should be massive improvements in the way its implemented and work with games and the OS (I HOPE). I've personally called MS and escalated this to one of their engineers. Hope is on the way, see article below.
https://devblogs.microsoft.com/directx/auto-hdr-preview-for-pc-available-today/
*UPDATE* June 2020
So if you install the latest Nvidia driver 451.48 or later combined with Windows 10 v.2004 it completely fixes the issue for me at least.. I see some post below of users saying it isn't working so I am changing the thread to not fixed.
I've tested past, current versions of Windows and scoured various forums for a fix. This is happening to many many people yet still not fixed... The Windows 10 Volume OSD turns HDR off or appears to have some sort of affect whilst adjusting the volume. When the Windows volume overlay appears on screen while HDR is enabled in fullscreen apps or games, the monitor goes dark. Once the overlay is off screen it turns back on. This is very annoying as I would like to use HDR without my screen turning off in the middle of competitive gaming. Also for what ever reason Nvidia Shadow play or recording doesnt work while HDR is enabled in Windows. Can someone make note of this and please fix it... I know this has been reported before but even on the insider additions of Windows the issues still resides.. :(
The only temp fix I can find is turning on your mouse trail in the mouse settings in windows.. This eliminates the issue but who the heck wants a mouse trail!
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Notifications still seem to mess it up and show the black screen for a sec.
Also if an app like spotify is running the volume overlay is still showing when changing volume.
I beleive i found out how to fix this i updated. My monitors drivers and havent had the problem since and it wctually ddint recognize my monito in device manager but did after the driver update
Looks like they removed the volume slider overlay all together when in HDR mode at least.
Still just got the latest build in insider fast ring, gonna get back with more info on what's up after some testing.
EDIT: confirmed,
BUILD: 19631.1 21 May '20
Volume overlay no longer appears at all in HDR mode. hence not causing black screen switching.
That's great news! Are you running insider W10?
I use the same insider version BUILD: 19631.1 21 May '20
When i change to HDR in display settings and use the volume button the volume bar is still present :(
OKAY WT* I JUST UPDATED MY DRIVERS MISTAKENLY BUMPED MY VOLUME WHILE THE NVIDIA DRIVERS ARE INSTALLING AND MY SCREEN FLASHED THEN BLUE SCREEN OF DEATH... DONT TOUCH UR VOLUME WHILE INSTALLING DRIVERS WOWWWWWWWWWWWWW