Laptops, regardless of the make, have included such poor and badly calibrated display panels within the last several years. My last laptop (HP) and my current laptop (Dell Inspiron) all came shipped from the factory with a display panel that had muted colors and a blue tint right out of the box. Everything prior to those had a decent panel with good color and contrast.
Calibrating the display panel with the Intel Graphics app can help correct the color to something more tolerable, though it will not be 100% perfect. The gamma will also need to be corrected as well, but you now need a program such as QuickGamma to create a color profile for Windows as Intel stupidly removed the gamma sliders from their graphics app a few years ago. If photo/video editing is involved that requires accurate color reproduction, your best option is to connect a high end monitor via the HDMI port and use that instead. Otherwise, for casual use, replacing the panel with something that has better color reproduction without calibration would probably be your best option, though that does require disassembling the screen and voiding your warranty.
@Upuli I haven't replaced my panel. I'm getting along fine after adjusting the color settings with the Intel Graphics Command Center app and QuickGamma.
QuickGamma works with Windows 10. Not sure about Windows 11 as the program hasn't been updated in 10 years. You probably shouldn't experience any issues with QuickGamma, as all the program does is create a Windows color profile and applies it to your display settings.
Dell Customer Care replaced the Display unit yesterday, Their service (in Sri Lanka is good) Now red color distortion is low, but a kind of color imbalance is still there. So I am going to try kflash08 suggestion QuickGamma. I will let you know the results.