Does the image have its profile embedded?
Does Photos actually employ Color Management?
Please set the Status Bar to »Document Profile« and post more meaningful screenshots.
2 people found this helpful
Photoshop is fully color managed and uses your monitor profile to display the images. This is a standard profile conversion from document profile to monitor profile.
Windows "Photos" does not support color management at all. It sends the original numbers straight through without any correction for the monitor, and ignores the monitor profile.
So this could mean two things. Either you have a wide gamut monitor, in which case this is normal and "Photos" is wrong.
But more likely you got a defective or corrupt manufacturer monitor profile, either through Windows Update or on installation media shipping with the unit. This is an extremely common problem.
To test that, replace the current profile with a generic one - sRGB for standard monitors or Adobe RGB for wide gamut models. Relaunch Photoshop when done, it needs to load the profile at startup:
The proper solution is a calibrator. The only way to ensure correct display is to use a calibrator to make a custom monitor profile, and use color managed applications only.