I had it set to switch the colors at sunset in my location, which it detected to be at 7:56p. While using my computer late one evening, I wondered why everything was still so bright and obviously not using the appropriate yellow and orange hues. I checked on the Windows settings, it told me Night Light was "off until sunset (7:56 PM)", even though it was 8:52p. So it didn't realize that 7:56 < 8:52, and that it should have already turned on Night Light. f.lux just works, Windows 10's solution does not.
With f.lux you can insert your location manually.
And in general, if I need to wake up early, I'd rather the monitors be at their bluest immediately, and not wait until sunrise.
A fixed schedule is better than the fancy sunset times.
To each their own of course - if it bothers you, don't do that ;-). But from personal experience I can assure you that not everyone minds a reddish screen before sunset (honestly, many visitors don't even notice unless there's some other screen right next to it).
I'd rather just give it to F.lux. MS will use it to sell me Bing search results.
I thought it was something like when websites ask for your location temporarely.
Apple was first (?) to stole the idea from f.lux, and since then everyone else followed suit.
I don't see a lot of people going out of their way to install f.lux. On macOS I use the native option because it allows you to disable it for projectors and similar.