On digging a bit, I found that HP Display Control is a software program developed by Portrait Displays for HP. It adds a Windows Service (HPDCService) that runs continuously in the background. Its ...

HP Display Control software applies subtle changes between default (vibrant), native, and photo- and video-optimized color palettes.

On Windows machines, it seems easier to use the HP Display Center software to control all these things and set up various screen partitions for particular applications.