The Quarry - HDR Settings

The peak brightness in the game seems to be fixed and not adjustable. This game does not seem to use the PS4, PS5 and Xbox system calibration settings. 

The peak brightness limit is about 1700 nits.  If your TV brightness is very different from 1700 nits, then use the tone mapping modes of your TV.

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The game has several sliders. Max Display Brightness slider doesn't seem to do anything. See the screenshot below to evaluate the effect of the value on the image.

The HDR Brightness slider is a mid point setting, i.e. increasing the value increases the overall exposure of the image, but also degrades the black level. See the screenshot below to evaluate the effect of the value on the image. Leave the default or customize as you like.