- Edited
this is probably because you're running the sRGB profile, that is not the laptop's native color gamut.
P3 displays have the ability to create oversaturated reds (and blues) by design, running it in "sRGB mode" will just "stretch" normal sRGB red all the way out to maximum P3 red.
another thing that may affect this is panel variation, my first TB M2 had the classic "screen lottery greenish-Yellow Tint" (also often seen on iPhones) but my new one doesn't — it now has a very slight "reddish" tint instead which is nice because a lot of my other "most usable MacBooks" have a reddish tint!
each one actually had an entirely different color temperature to my eyes IMO. of course true tone was off on both