SUMMARY
There's a noticeable lag when moving windows or watching videos after enabling an ICC profile.
I've reproduced the issue in a Neon unstable VM, where it's more pronounced.

STEPS TO REPRODUCE
1. Apply an ICC profile for the display, e.g. /usr/share/color/icc/colord/Bluish.icc
2. Play a video in the browser.
3. Move a window around.

OBSERVED RESULT
Moving the window feels like low refresh rate, and the video gets laggy if not completely freezing while moving the window.

EXPECTED RESULT
Moving the window and playing the video to feel the same as without applying an ICC profile.

SOFTWARE/OS VERSIONS
Linux/KDE Plasma: Neon unstable
KDE Plasma Version: 6.1.90
KDE Frameworks Version: 6.7.0
Qt Version: 6.7.2

ADDITIONAL INFORMATION
VM was using llvmpipe, and bare metal was using amdgpu.