I have the same problem. I do own a Philips monitor 346E2C. Manual resetting to default doesn't help, using Philips SmartControl applications doesn't help.
Something reset the monitor always back to racing mode. I would accept a one time manual reset after every reboot. Right now I loose too much time. It must be a Windows11 issue!
The most annoying is whenever I start WSL (Ubuntu on Windows) the monitor is reset to racing!!!
From dxdiag a list:
Display Devices
Card name: AMD Radeon (TM) Graphics
Manufacturer: Advanced Micro Devices, Inc.
Chip type: AMD Radeon Graphics Processor (0x15E7)
DAC type: Internal DAC(400MHz)
Device Type: Full Device (POST)
Device Key: Enum\PCI\VEN\_1002&DEV\_15E7&SUBSYS\_8A31103C&REV\_C1
Device Status: 0180200A [DN\_DRIVER\_LOADED|DN\_STARTED|DN\_DISABLEABLE|DN\_NT\_ENUMERATOR|DN\_NT\_DRIVER]
Device Problem Code: No Problem
Driver Problem Code: Unknown
Display Memory: 8335 MB
Dedicated Memory: 495 MB
Shared Memory: 7839 MB
Current Mode: 3440 x 1440 (32 bit) (60Hz)
HDR Support: Not Supported
Display Topology: External
Display Color Space: DXGI_COLOR_SPACE_RGB_FULL_G22_NONE_P709
Color Primaries: Red(0.671875,0.311523), Green(0.274414,0.653320), Blue(0.153320,0.074219), White Point(0.313477,0.329102)
Display Luminance: Min Luminance = 0.500000, Max Luminance = 270.000000, MaxFullFrameLuminance = 270.000000
Monitor Name: Philips 346E2C (34 inch Wide LCD MONITOR )