In my case with a LG 27UL850-W display, only the un- and replugging of the POWER CORD on the back of the display itself could solve the issue.
Software power on / off button of the display did NOT help solving the issue.
Strange behaviour.
DaVinciSystem
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I have the same issue here, MacOS Monterey, 12.6.4 - as a pro user this is a total nightmare ! Help !