Hello,
the issue actually started once the Windows 10 Summer Update (Build 1803) was installed on my system. Everything went fine until the very last moment when Windows could not install the UHD620 driver properly. As a result, it got itself an exclamatory mark in the device manager (error code: 43) and display brightness could not be adjusted. Reverting back to UHD 620 version 22.20.16.4691 gets everything okay. This version is the latest from Acer according to their
support page while the latest from Intel is 24.20.100.6194.
I, however tried to get the latest driver installed into the system using "have disk"method etc. It either stopped the installation saying "you have the latest update" or ended up with an error code: 43.
But the real issue was not that.
Turns out the UHD 620 Driver that is built into our system is Acer customized which means installing a driver direct from Intel should not be a wise move.

Then I contacted Acer directly through e-mail support asking for a driver update for Swift 3. At first they could not understand it properly. After elaborating it this is what they have to say this:

Two months gone since then. It is really sad to see that the customized softwares are being delayed this far by a manufacturer like Acer. I first took it to acer community, then emailed them and no driver update from them to this not so old device. It is a 8th gen Kaby Lake- R PC. it should have the latest Intel UHD Display driver update. I came to learn HP's ENVY x360 also has customized UHD 620 driver but it seems they already have driver update for 1803 Build. So why not Acer?