That is IPS light bleed. Every IPS panel has that but I agree the iMac 24 has it more that other displays. Your colleague's is actually really bad I just have it a bit in the corners and I solved the problem by placing an ambiental strip light behind my desk so whenever I am watching a movie I set it to 15% to eliminate the light bleed.
This would be the only disadvantage but for the price the iMac 24 is definitely worth it. Maybe they will improve the display in the M3 gen? Fingers crossed!