This might be a bug or by design which needs to be handle by certain pipeline (OCIO?), but it's quite confuse that such big difference compare the images rendered by MRQ to those seen in Editor viewport or rendered by Sequencer Movie scene Capture. If it's by design we need clear guildline for this kind of pipeline or issues
Unzip the attached files into Content folder of a project
Open the level and Render images by using MRQ and Sequencer Movie Scene Capture
Compare the difference(see image attached for comparison)
There's no existing public thread on this issue, so head over to AnswerHub just mention UE-122227 in the post.