Due to the high demand for streaming services across the globe in relation to the pandemic lockdown, Netflix, much like most services, had to limit its streaming quality in Europe. Things are returning to normal and Netflix announced that it's finally easing its bandwidth restrictions.
For some time now, the load on the internet infrastructure is showing signs of improvements and in some regions, Netflix is restoring the original bitrate to 4K and other resolutions. So in some regions, users should start seeing the change in their accounts. It's gradual, so it may take some time for some regions.