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How to reproduce:
Open the attached project “IN-132457” or create an empty HDRP project
In HDRP asset make sure that both Color Buffer and Post-Process Buffer format are set to 16bit modes
Toggle Dynamic Resoltion either in Camera inspector or HDRP asset
Actual result: Tonemapping is not applied and the Game View appears darker
Expected result: Tonemapping is applied and colors in the Game View do not change