Even ignoring this issue, I would advise most people to keep HDR off. Most software is incapable of handling HDR properly. The only significant exception are HDR videos, where it may be worth it to enable it.
I just bought a OLED monitor a few weeks ago, and enabling HDR in Windows makes everything washed out for SDR. OK, with a lot of tunning, I was able to get it to be acceptable. Then I played a game supporting HDR (MSFS). Didn't look much better with HDR enabled.
Then played World of Tanks, that doesn't support HDR, with auto-HDR. The results were horrible. Every dark shade of gray became a very light shade of gray. Every dark scene basically became a lot of gray. Including dark UI parts and static loading screens. There was no gradient between those grays and black. I disabled HDR, and everything looked much better again.
Then, finally, I tried playing Cyberpunk 2077, which in theory supports HDR. I've never seen worse image quality. All dark content became bright greenish gray. There was no black at all anymore in the game. Apparently the game can't generate perfect blacks with HDR enabled. I think they missed the "D" in HDR, and the range is hard coded, instead of adjusting automatically depending on the scene. I even used ReShade to adjust the gray levels closer to black, it helped, but the image was still ugly and greenish and stuff like black hair was badly rendered. Then I just disabled HDR, and the game then looked gorgeous, blacks were black again (it's not enough to disable HDR in game, it will still look bad, you need to also disable HDR in windows).
In conclusion, unless you watch HDR videos every day, or play some game that implements HDR properly (if such a thing exists), there is no reason to enable HDR in Windows, at least with OLED displays. On regular LCDs, you may want it enabled for the Auto-HDR feature that sometimes makes SDR games look better.