Apple TV owners with the latest software and a newer iPhone can use their phone's camera to automatically color balance their TVs.
To use the feature you'll need to update your Apple TV and your phone to TV OS 14.5 and iOS 14.5, respectively. The phone also needs to be a newer model (iPhone X or later) that has Face ID.
The feature uses the phone's front-facing camera to read the TV screen.
To start, go to the Color Balance section of the Video and Audio menu within the Settings app.
Selecting it will bring up a notification on your phone.
At the same time, you'll see this screen with instructions on how to begin.
Note that the feature doesn't work with Dolby Vision.
Once you hit the notification on your phone you're ready to go.
This screen will appear on the TV.
Once you hold your phone up it will begin a series of measurements and different swatches of white and color will appear.
Yep, all done.
Afterward there's a results screen that lets you compare the "before" and "after."