Why does rendering become overexposed depending on camera angle?

The feature is called ‘eye adaptation’. It is supposed to mimic how the human eye adapts to low light situations. This can be useful if the player/camera is transitioning often between bright outdoor and dim indoor scenes.

When you look at the ground it basically treats it as if you transitioned to a dim environment as the sun/sky is no longer in frame.

Heres the docs on it:

And if you want to disable it: