I am fairly new to this camera (upgrade from 5D classic), and to ML in general, but since all my attempts at video capture without ML/FPS override were working normally, I am raising the issue against ML/FPS override.
I tried taking some timelapse videos today. With only the "Simple" settings for FPS override, I chose 2fps and 4fps options, and attempted to engage the movie capture.
On screen, the colors were bad. After reviewing videos on camera and off, the colors were bad. It took several cycles of starting/stopping the video capture (no settings changes) before the camera figured out the exposure and started collecting good video.
Attached are two attempts that showed bad color behavior, with no exposure settings changes. Note the more normally colored one still has some pink banding and green-heavy color in the foreground. After 1sec of greenish video, it finally settled down and caught better frames.