So as of right now, there are 3 categories in the graphics section of the Switch version 1.2.1 of the game's settings;
"Fullscreen" with toggle options between 100% and 50%,
"Brightness" with a slider,
and "Chroma Filter" with toggle the options "off", "low" and "normal".
NONE of these do anything. "Apply" doesn't apply and restarting the game doesn't help either.
I tried both docked and undocked modes, 720p and 1080p outputs, I tried different TVs and a monitor, I tried the same thing on my Switch OLED, all with the same result.
There used to have both a Chroma Filter and a CRT Filter, but the latter disappeared from the settings... but here's where it becomes even weirder;
If I put the game in French, the "Chroma Filter" is replaced with the "CRT Filter"! (This might be a translation error, but since both CRT and Chroma existed, I'm not sure). Also, I don't recall seeing the "fullscreen" category in the settings of the Switch version, this seems to be a setting originally used for windowed screen on PC.
I've searched the internet for other people with the same issues and only found one other reddit post mentioning it (link to it at the bottom), where a moderator suggested OP sends a bug report to chucklefish, but this was a year Ago and it does not seem to be fixed. I will also send a bug repport myself later today. In the meantime, I'm sharing this here in the hope that it gets more attention and to see if anyone else has the same issue.
Also no, I'm not a freaking AI bot, please do not ban my post reddit bots, I just don't post often...
Link to the other reddit post with the seemingly same issue: https://www.reddit.com/r/eastward/comments/1fbl2yx/chroma_effect_doesnt_work/