It is most likely a color mismatch between the template and the cutout. What color profile is the template? Make sure it is set to sRGB. Also, make sure the cutotus are sRGB. If the cutouts are PNG instead of tif then often the color profile doesn’t embed into the image and will be “unmanaged”. In that case the color profile will default to sRGB as long as your Photoshop color setting are default. So that will still work fine as long as the template is set to sRGB too.