Except for the Switch, all other consoles support mature high dynamic range. So regardless of which console you get, the monitor needs to have good HDR support. Look for DisplayHDR 400 and above, which tells you the monitor has been officially certified by VESA, the organization that sets most standards in the PC display industry.
HDR makes a noticeable difference in gaming, especially now that games ship with HDR data built in by the developers. Bright scenes appear distinct, colors have improved definition, and contrast is better utilized to give every scene more depth. Speaking of color, always choose monitors that provide 10-bit color depth. The panel itself can be 8-bit with frame rate control, that’s OK. Such panels showcase 10-bit color indistinguishable from native 10-bit panels, which are very rare and costly.
Every monitor maker has a different approach to optimizing HDR and color. BenQ, for example, has smart HDRi technology to modify high dynamic range output based on the content shown on the screen, so you automatically get the best HDR. Color Vibrance, Light Tuner, and Black Tuner likewise serve to optimize picture quality and keep important details from getting washed out or lost. Basic, budget monitors don’t have these features and therefore offer compromised, essentially non-modifiable output.
Remember, consoles also double as streaming and entertainment boxes. And all major streaming platforms, be it Netflix, Prime Video, Apple TV, Disney Plus, Hulu and so forth, well, all of them provide HDR-formatted content. This will be lost on a non-HDR display, so clearly a good HDR monitor rewards you in several ways beyond just gaming.