Color profile

A color profile tells a color-management system how to interpret color values for an encoding or device. An ICC profile gives that description in a defined format, allowing colors to be translated appropriately. It is more than a brightness setting. The International Color Consortium

BetterDisplay lists the display profiles available through macOS, lets you select one and can open it in ColorSync Utility. A profile appearing in the list does not necessarily mean it was calibrated for your particular panel.

Keep profile selection separate from two other choices: the connection's color mode and an Apple reference preset. They affect different parts of the setup. See Color Profile for the profile options.