Photoshop 2022 v23.0.1 Colour Display Issues

For what is my pretty standard workflow of editing in lightroom and then jumping into photoshop, I've noticed that colours are displayed oversaturated and inaccurate from what they should be. This is especially noticable through just the RGB colour picker tool where it looks like it's trying to display a HDR colour gamut in the standard sRGB one or something.

Trying the same workflow in 2021 v22.5.3 showed no issues at all so im sure its version specific.

Both colour settings are matching and set to North America General Purpose 2. Attached are screenshots of the picker in both v23.0.1 and v22.5.3.