Sounds like Deep has it figured out, and his fix is in-line with how I've set up my system to begin with. So no, I haven't been seeing any input lag or performance issues.

Also - some tips for anyone using an LG 7-series OLED (because the menus on the TV are lackluster):

• Each input has its own settings, and SDR, HDR, and Dolby Vision are considered to be separate from one another. Also, If you launch apps on the TV, those are considered to be different inputs as well. So if you're in SDR mode for an input and have all your settings configured, be sure to do the same when the set is displaying an HDR signal, too.
  
• Dynamic Contrast in SDR should be turned off, but in HDR it does something quite different, and should be set to "Low" for proper HDR display. LG has an obscure PDF on their site somewhere that describes what's happening, but basically, in HDR, the Dynamic Contrast at "Low" turns of "Active HDR" while keeping actual "Dynamic Contrast" processing disabled.
  
• And yeah, be sure to turn on the HDMI Deep Color setting for your HDMI inputs that will be driving HDR, otherwise it won't work right. Note that you can only enable/disable this setting while that HDMI port is the active source.
  
• Don't set the "Brightness" setting above 50, otherwise you won't get those luscious OLED blacks. Brightness is an image processing function that will raise the black levels of the entire image, thus making the whole screen light up a bit even when things should be solid black.
  
• Go buy the Planet Earth II 4K Blu-ray and watch it on your Xbox One X/S. It's incredible.

The second workaround I found works perfectly and takes 5 seconds. Gorgeous HDR, no input lag or graphical problems.
It appears LG allows you to select game mode with HDR two ways. One creates serious input lag and one does not. Maybe it's just really poor documentation.

From The Fix:

3. Do not go into "All settings" mode to set the picture mode or any picture attributes like colour brightness etc. That's seems to be the source of my problem.

Not being able to calibrate my TV is not working "perfectly". I have a hard time calling it a fix, even. Now, I have not encountered the problem myself because I don't have an XBOneX yet, so I'm not planting a flag in the hill yet, but I know I need to be able to adjust the default profiles or I will be very unhappy.

I fully understand your concern. I am so happy the input lag went away, giving up calibrating the TV is a small sacrifice. That being said, I haven't tried any calibration settings after selecting Picture/Game as I described. I may try it soon.

I can say that on my LG UJ6500, Destiny 2 looks great in HDR with Wide Colour Gamut. I was afraid the blacks inside dark tunnels were going to be too dark with a blue haze. They turned out not so bad as I imagined. HDR enhances colour detail that are very helpful with tunnel navigation. LG LCD TV have poor black level too.

OLED for 2017 are going to be the big winners for HDR gaming. Perfect black levels and very wide colour gamut compliance. They come very close to the Dolby Vision standard for dark rooms. LCD for the most part can't reproduce much past HDR10. Nature of the beast.

Some people are going to be so shocked by the enhanced colours they might tone it down. I say spend a few hours with it and you'll wonder how you ever gamed without it. The enhanced colours and contrast give objects a more 3D look to them too.

The second workaround I found works perfectly and takes 5 seconds. Gorgeous HDR, no input lag or graphical problems.
It appears LG allows you to select game mode with HDR two ways. One creates serious input lag and one does not. Maybe it's just really poor documentation.

From The Fix:

3. Do not go into "All settings" mode to set the picture mode or any picture attributes like colour brightness etc. That's seems to be the source of my problem.

Not being able to calibrate my TV is not working "perfectly". I have a hard time calling it a fix, even. Now, I have not encountered the problem myself because I don't have an XBOneX yet, so I'm not planting a flag in the hill yet, but I know I need to be able to adjust the default profiles or I will be very unhappy.

There are so many variables. I hoped that your issue was a matter of making the right adjustments. The shipping company called wanting to deliver my tv today but I'll be out of town until next week. :(

LOL. You are living my last-week life.

I got a B7A delivered last week, but they missed the scheduled delivery and they wanted to deliver it on the day I was flying out of town. (I made them bring it before I left so I didn't have to worry about it. Hopefully it all works out for you.).

I didn't either the first time, I don't think. But atleast it's working now!

Game mode should Allow HDR to work, it just turns off other things. I would seriously try the crazy thing that worked for me, it takes 10 minutes.

Thanks.

I have already mentioned I found a fix. The above was the first workaround which eliminated input lag at the loss of HDR. Not acceptable.

The second workaround I found works perfectly and takes 5 seconds. Gorgeous HDR, no input lag or graphical problems.
It appears LG allows you to select game mode with HDR two ways. One creates serious input lag and one does not. Maybe it's just really poor documentation.

My XB1X never had 4.2.2 turned on and I have done the hard reset. So the problem mentioned on bnet was not the same as mine.

4K land is an unstable place.

If any other new LG owners have problems, this may help you. They all have WebOS with a similar menu system.

1. The HDMI port must have HDR turned on in the General settings menu. After this your XB1X should show a complete list of all the 4K comparability under video settings.

2. Select settings and then Game picture mode. Voilà!

3. Do not go into "All settings" mode to set the picture mode or any picture attributes like colour brightness etc. That's seems to be the source of my problem.

BTW, only people who use a 4K HDR TV can tell you how good it can look. There is no way to show it unless you're in front of it. Same goes for OLED versions.

I'm very jealous of you soon to be LG OLED owners. You are in for a treat!

I'm not positive I'm out of the woods yet but it sure seems like it.

I'm not done looking for workarounds that allow HDR to work without input lag. Need more time.

We are dreamers, shapers, singers, and makers. We study the mysteries of laser and circuit, crystal and scanner, holographic demons and invocations of equations. These are the tools we employ, and we know many things.

Seems the 4:2:2 or literally hard resetting the console may be the fix.

I have the LG OLED C7. In Game Mode, still allows HDR, and it had weird issues. The text on the bottom left would freak out and ban sometimes. When inspecting character the cursor would speed up and down. Sometimes when moving fast, I would get banding. Didn't go back to 1080P and don't know how to just turn off HDR, but it looks great in Halo 5 no issues.

Its clear it's the game itself having the issue, but when it wasn't messing up, it looked so good.

Discouraging news. I've got a B7 coming soon. I'll report back.

I have the LG OLED C7. In Game Mode, still allows HDR, and it had weird issues. The text on the bottom left would freak out and ban sometimes. When inspecting character the cursor would speed up and down. Sometimes when moving fast, I would get banding. Didn't go back to 1080P and don't know how to just turn off HDR, but it looks great in Halo 5 no issues.

Its clear it's the game itself having the issue, but when it wasn't messing up, it looked so good.

I haven't heard him say anything about it, but Beorn is basically a techno-mage. So he probably fixed it with his techno-magic

Its clear it's the game itself having the issue, but when it wasn't messing up, it looked so good.

Is it just In destiny? And if so, why assume it is an LG problem? (He asks, nervously eying his 2-day-old LG tv)

Never said it was an LG problem. It can be a problem with any TV. It just happens to be an issue on my model.

Destiny 2 is the first FPS in 4K HDR I've played on it.