Okay so I was able to reproduce this issue at will now and can say exactly how you can test for it. Basic display settings are Ambient EQ On, Ambient Display Off, Smooth Display On (90Hz enabled), Dark Mode Enabled, Night-shift Enabled, November patch though I think the same issue affects the launch software but to a lesser extent. For ease of testing, turn off auto-adjusting brightness. Once you have this set, here is what you do to see the problem yourself (note that the settings I mentioned are just what I had set when I tested this so I recommend using the same so its apples to apples comparison):
1. Make sure you have the default wallpaper set for this test since it is the easiest to detect issues with it.
2. Pull down the quick settings shade, drop the brightness slider all the way to zero, then close the quick settings.
3. Turn off the display by pressing the power button, wait maybe 5-10 seconds, then turn it back on. You will notice that the screen (at least in even a moderately lit room) is barely readable. It should now be red-shifted.
4. Pull down the quick settings again and start moving the brightness slider from 0% to 100% slowly, then repeat the process of moving the slider back and forth for a bit and note the colour changes. You will notice that the true-ish gray will be somewhere around 75% brightness or higher. Anything below this will start to red-shift quite severely (your grays will look more red/purple).
5. Set the brightness slider to 100% and close the quick settings, then swipe down to open them again.
6. Start moving the brightness slider from 100% towards zero and pay attention to the screen colour. You will notice that true gray quickly starts to degrade to greenish-gray, then quite severely green, until finally the brightness collapses severely around 10%-15% of the slider. Your display is now severely green shifted and moving the brightness slider back and forth will just show this effect switching to true gray around 70%-75% and up, and to severe green shift for anything below that.
7. Finally, drag the brightness down to zero again, then turn off your display via the power button. Turn on the display again and move the slider around again. Your display is now no longer green shifted, but it is now red-shifted. Repeating the same steps over and over will result in the same behaviour, back and forth red-shift when screen is turned off with brightness at zero, green shift when brightness is turned down after the device engaged 90Hz refresh rate and so on...
I actually recorded a video of this happening and will see how I can share it with Google.