No Man's Sky - HDR Settings

PS5

This game uses the PS5 HDR system calibration settings. Adjust the PS5 system HDR calibration using the information

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Xbox

The peak brightness in the game seems to be fixed and not adjustable. This game does not seem to use the Xbox HDR system calibration settings. 

The main peak brightness limit is about 820 nits. If your TV's peak brightness is anything other than 820 nits, then use your TV's Tone Mapping modes.