What you describe around a two-mode screen is basically the whole IP around the transflective displays made by 'Pixel Qi' (Unrelated to google pixel).

I know they made a few devices and saw some projects of people retrofitting them in acer and thinkpad laptops. For a period maybe 10 years ago adafruit also sold the display and driver as a standalone. Then I assume they went bust (around 2015, according to wikipedia).

Would be great if someone made those again to retrofit on business laptops.

Edit: here is a demo with the transflective and light-up mode of the Qi10 https://www.youtube.com/watch?v=gi6DbFyZde8