A quick search of the broader internet world reveals that the answer is “Yes”.
The terms “HDR” and “washed out” seem to go hand in hand.
As one technical article put it:
“In principle, conversions between HDR formats are non-trivial operations that may impact artistic intent and/or introduce visible artifacts… …Encoding of videos in HDR formats currently requires the use of HEVC video codec, operating in Main10 profile, and using 10-bit pixels. Such codec, profile and bit-depth parameters must be defined for all HDR outputs.”
A public domain illustration which graphically illustrates the problems involved is found in this enlightening Wikipedia article.
HDR goes farther into the areas greyed-out in this graph of the total theoretically possible color-space than the usual codecs do. (sRGB shown in color)