Try this
Make a shortcut to the games exe then right click the shortcut, go to properties, then under target add a space next to the end " and add --rendering-driver opengl3
so the shortcut should look something like this
"C:\Users\YourUserName\Desktop\Poppy Playtime - Chapter 0.exe" --rendering-driver opengl3
This fixed the high contrast and graphical rendering issues for me.
Hope this helps