The base color is brighter on Nanite meshes than non-Nanite meshes when GBuffer Format is set to "Force 16-bits per channel" (r.GBufferFormat 5) even though the meshes are using the same material.
Expected
The material on the meshes looks the same when the GBuffer format uses 16-bits per channel.
Actual
The material looks brighter on the Nanite mesh , but not the regular mesh. If you enable the GBuffer visualization you can see the basecolor for the Nanite mesh is much brighter.
There's no existing public thread on this issue, so head over to Questions & Answers just mention UE-221247 in the post.