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I have tried re-calibrating the screen
How? What calibrator, what settings?
That Photoshop message means exactly what it says, the profile is defective somehow. Photoshop relies on a good profile to display properly, while many other applications that aren't color managed don't use the profile at all.
To confirm this, try to set sRGB IEC61966-2.1 as system default display profile in Control Panel > Color Management > Devices. Relaunch Photoshop when done, so it can load the new profile at startup:
Note that this is for diagnostic purposes and doesn't fix the problem as such, as sRGB is a generic profile that just happens to be fairly close to a typical monitor's response. A calibrator is supposed to make a more accurate one. If you have a calibrator that makes defective profiles this needs to be addressed separately.
I went to 'calibrate colour' in control panel, but nothing seemed to need to be changed.
I maybe should have been more specific in my original message. I have a separate monitor which I sometimes use. In photoshop white appears white on the monitor but yellow on the laptop even when the screen is not plugged in. The message has also now stopped coming up when I start up photopshop.
I tried adding the sRGB IEC61966-2.1 profile and setting it as default both when the screen was plugged in and when it wasn't. The colour is still yellow on my laptop but white on the monitor when I restart photoshop.
If you don't have a calibrator, use sRGB as per the screenshot above, for both screens. Leave the second monitor plugged in.
Remember to check "use my settings for this device", which I think gets unchecked if you try to use Windows calibration.
Photoshop must be relaunched for it to take effect.