I've had a MBP 16" for less than a week and have had the faded screen issue a few times. I have the laptop hooked up to a Dell monitor via DisplayPort with a simple USB-C video adaptor from StarTech. Please note that it only affects the MBP's retina display, not the external monitor. The first two times the issue arose I fixed it by unplugging and reinserting the display adaptor, but this time I toggled the True Tone setting off and on under Displays Preferences pane and that fixed it (temporarily, I assume). To me, this suggests that either it is an issue with True Tone or that toggling this setting resets the colour profile as other users have reported as a fix.
I thought it might be helpful to include some photos of the screen with the external monitor for comparison. Hopefully adding this info may help Apple's devs troubleshoot the issue.
Issue pic #1
View attachment 921195
Issue pic #2
View attachment 921197
Resolved issue by toggling True Tone off/on (left display now looks more faded by comparison to the MBP screen, but I assure you it remained the same)
View attachment 921198
I suppose it may also be worth mentioning here for the sake of a keyword search that my MBP 16" was incompatible with my Dell WD15 dock, causing flashing/flickering of my external monitor. I tried HDMI/DisplayPort, every possible setting on the monitor, different USB-C ports and many more fixes until I realised changing to another (unpowered) display adaptor fixed the issue.
[automerge]1591176839[/automerge]
[automerge]1591176888[/automerge]
I should add that the MBP 16" had the faded screen issue twice on 10.15.4 and now again today on 10.15.5 so there has not been a fix applied with the update.
Thank you. Similar set up - toggling True Tone returned my MacBook Pro display to the correct colours. It had turned very faded and I had no idea why.