The game DOES USE/APPLY Xbox , Playstation and PC HDR Calibration app settings.
Like the latest entries, the game has a very good HDR implementation as it will actually read and apply the system HDR Calibration app settings directly to the in-game HDR sliders as soon as you open the game, with a measured Peak HDR Luminance up to 10.000 nits.
That said the game on first opening may still ask you to review/confirm those automatically entered settings for both Black Point and Peak HDR Luminance sliders.
If you want to be sure the values you see there are correct, read below.
If you have an LG OLED and:
> you're using Dynamic Tone Mapping or Dynamic Contrast:
Set HDR Black Point slider to: 0.00 (nits)
Set HDR White Point slider to: 0.90 (which is around 4.000 nits in-game)
> you're using HGIG:
Set HDR Black Point slider to: 0.00 (nits)
Set HDR White Point slider to: 0,73 (which is around 800 nits) or 0,76 (for G2/C4; 1.000 nits) or 0,80 (for G3/G4; 1500 nits)
If you don't have an LG OLED and:
> you don't have an HGIG option:
Set HDR Black Point slider to: 0.00 (nits)
Set HDR White Point slider to: 0.76 (which is around 1.000 nits in-game)
> you're using HGIG:
Set HDR Black Point slider to: 0.00 (nits)
Set HDR White Point slider to the corresponding real Peak HDR Luminance of your TV in "nits" for the "Actual Game Peak Brightness" column:
BONUS:
Disable Film Grain: by setting it to 0.00 to improve picture clarity
Enjoy :)
-P