As you can see in the above pictures I am using the Fedora theme and you can see the dynamic wallpapers configuration. Also night light is enabled (I do not think it is related to that but might useful).
All other programs are displayed in light mode (bright appearance).
However my wallpaper is in night mode. I have the same problem with other day/night wallpapers too.
It happened after I updated to Plasma 6.5.1 from 6.4
No, as you can see in this picture auto switch is disabled.
I upgraded my system to Fedora 43 on the day its stable version was released. Two days later the Plasma 6.5 was placed in the stable repository. I installed the update and restarted my computer.
After reboot I saw that the wallpaper is in night mode.