I would rate the JVC LX-NZ3 picture quality out of the box as very good. No major issue with color accuracy leaped out at me. JVC LX-NZ3 has three preset picture modes along with two user configurable modes. Of the three different preset SDR picture modes available, the Natural mode was the most accurate.
In addition to the Natural picture mode, the JVC also includes a Dynamic and a Cinema mode. The Dynamic mode image was cooler and brighter, while the Cinema mode picture was warmer with boosted contrast.
There are also two User configurable modes which look identical to the Natural picture mode. These modes can be used to store picture settings after calibration such as SDR best mode or SDR bright mode.
To achieve the best out-of-the-box SDR picture choose Natural (any custom User mode) along with the Normal color temperature and 2.4 gamma preset options. The lamp power will default to Normal and selecting one of the Variable options in the Light Source Setting submenu will engage the projector’s Dynamic Laser Dimming feature.
The screen shots above give a rough idea of the color accuracy for each picture mode. I also include several shots of HDR and SDR content. When viewed in person, colors and skin tone will look better than shown in these photos.