UE5[5-0]-Materials changing colour after placing them in scene

Hi. I am new to ue5 and was trying to build out a scene but whenever i try to place a material in the scene, the material changes its color in a weird way. The same issue happens when I import megascan assets. They look nothing like how they are shown on quixel bridge.

Before placing the material
Screenshot 2022-01-24 at 19.42.09

Screenshot 2022-01-24 at 19.42.16

After placing the material

Screenshot 2022-01-24 at 19.42.24
Screenshot 2022-01-24 at 19.42.29

I haven’t done anything through the post-process volume or lighting. Tried opening a new project but have the same issue.

Summary