My display (when via HDMI) is detected and assumed by the Intel graphics driver as a "Digital Television" instead of a "Monitor". I think that is because it is a hybrid monitor and TV. The consequence of this is that the driver will adjust the color scheme to match a TV watching scenario (and won't let us change it in a straightforward way!).
What I did to fix (workaround) this was open up "Intel(R) Graphics and Media Control Panel" (one way can be by pressing Ctrl+Alt+F12) and change a few settings. Here's how you can do it:
Select "Advanced Mode" in the dropdown that, by default, is set to "Basic Mode". Then select "Custom Resolutions" inside "Display".
|Changing to Advanced Mode|
Fill the "Add Custom Resolution" fields with the intended screen resolution and under "Timing Standard" select "CVT-RB" (this is where the secret lies).
|Changing Timing Standard for specific resolution|
If your screen doesn't flicker automatically, you may need to restart your computer. You need to add a custom resolution configuration for every different resolution you may need. The "Timing Standard" can be different from "CVT-RB", but that one I can assure works.
|How it should look after everything|