Error: Failed to create color LUT or Tint in the Real-time View

How to resolve the startup error Failed to create color LUT or when the Real-time View has a tint or a different colour than the rendered image

Issue

The error message "Failed to create color LUT" appears on startup resulting in colors or environments or anything that relies on the LUT (Color Lookup Table) to be edited.
You might also notice that the real-time view has a blue or brown tint while the render preview and the rendered image look correct.

Environment Details

• KeyShot 

Cause

• With few exception it usually appears when starting KeyShot e.g. shortly after booting the system. It triggers when KeyShot fails to load the System Color Profile in time.

Resolution

Restarting KeyShot should get rid of the error message.

If restarting does not help, please open your Colour Management on your system. KeyShot will try to use the default profile. If it is corrupted or has restricted permissions KeyShot might not be able to generate the Color Lookup Table.
Go to Settings > System > Display > Color profile > Color management.
If the buttons are greyed out, you need to check the checkbox "Use my settings for this device" below the Device selection.

• If there is the correct profile, but it is not a default, please select it and click the "Set as Default Profile" button in the bottom right.
• If the list is empty, please add a profile, a basic sRGB profile is a good starting point
• If it already has an default profile, please try changing it to a different one or adding a new one and making it the new default.
  
  

Please also turn the "Use HDR" off in the system's Display Settings.
Some Windows updates might turn this setting on, so it's advisable to check if it is on.

Change your Windows Color Profile

On a Mac: