Colors appear saturated when Linear Color Space is selected

Reproduction steps:
1. Open the attached “ASDQWE” project
2. Open the Project Settings Window (Edit > Project Settings)
3. In the Project Settings Window, change the Color Space to Linear (Player > Other Settings > Rendering > Color Space > Linear)
4. Build and run the Player (File > Build And Run)
5. Observe the Player

Expected results: The colors appear vibrant
Actual results: The colors appear saturated

Reproducible with: 2021.3.37f1, 2022.3.25f1
Could not test with: 2023.2.19f1, 6000.0.0b15 (“2 files found with path 'lib/arm64-v8a/libc++_shared.so' from inputs:” build error)

Reproducible environment: MacOS Sonoma 14.4.1 (Intel), Windows 10 (user’s)
Not reproducible on: No other environment tested

Reproducible with these devices:
VLNQA00175, Samsung Galaxy Note9 (SM-N960F), Android 10, CPU: Exynos 9 (9810), GPU: Mali-G72
VLNQA00519, Google Pixel 4 (Pixel 4), Android 12, CPU: Snapdragon 855 SM8150, GPU: Adreno (TM) 640
VLNQA00057, Htc One M9+ (HTC_M9pw), Android 6.0, CPU: MediaTek Helio X10 MT6795T, GPU: PowerVR Rogue G6200
VLNQA00146, Htc 10 (HTC 10), Android 7.0, CPU: Snapdragon 820 MSM8996, GPU: Adreno (TM) 530
VLNQA00372, Samsung SM-G991U (SM-G991U), Android 12, CPU: Snapdragon 888, GPU: Adreno (TM) 660

Not reproducible with these devices:
Phone 13 (iOS 15.0)
iPad Air 4th Gen (iOS 15.2.1)

Workaround:

• Change the Color Space to Gamma

Notes:

• The issue is not visible on Buildtime, Runtime Standalone
• Buildtime, Runtime Standalone, and iOS devices were tested with different projects due to the original project’s missing assets
• The issue is visible with Built-In and Universal Render Pipelines
• Could not test HDRP with the Android Platform (“Platform Android is not supported with HDRP.” error)