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How to Setup Your Apple TV
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You should consider configuring your Apple TV to be in SDR mode AND for the refresh rate to match the frame rate of the source content. By default, your Apple TV will be set to 4K HDR (which is really HDR10) and this may cause issues where the content is tone mapped incorrectly. The refresh rate is also set to 60 (59.94Hz) which may be incorrect unless your source frame rate already matches.
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Here is an example of how to set your dynamic range on your Apple TV to be SDR and to match a source frame rate of 24fps.
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1. Open the Settings app from the main menu
- In Settings, click on the Video and Audio menu entry

- Click the Format menu entry and scroll down to the bottom, then click Other Formats

- Scrolling again to the bottom of the new list, select 1080p SDR 24Hz

- Confirm the new setting by clicking OK (the screen will turn black for a few seconds

2. Set Chroma Subsampling to RGB High
- Back in the Video and Audio menu, select HDMI Output

- Then select RGB High (this corresponds to Legal Range)

- Confirm the new setting by clicking OK (the screen will turn black for a few seconds)

3. Set Match Content to On
- Back in the Video and Audio menu, click the Match Content entry

- Then turn Match Dynamic Range and Match Frame Rate to On

This last setting may be redundant as we have already forced the dynamic range and frame rate of the Apple TV, but it is good practice to always turn those options on.

Full video instructions below