All image saving mechanisms in Blender ignores the color format for EXR images, including Render Pipeline, Save Operator, and File Output nodes. To fix this, we first allow EXR images to be BW for flexibility. Then we adjust the EXR saving code to take into account the required number of channels. This is only done for single layer EXR images. Multi-layer EXR images correctly ignores the option. Pull Request: https://projects.blender.org/blender/blender/pulls/124807