"convert" is deprecated. Don't use it. Instead, use "magick".

The PSD was made by Photoshop, which usually writes a flattened version in the first image of the PSD. For ImageMagick, the suffix "[0]" will extract the first image from the file.

magick CRB17-009.psd[0] -verbose info:

This tells us the first image is encoded as CMYK, with embedded ICC colour profile.

magick CRB17-009.psd[0] out.jpg

This makes out.jpg from the first image, encoded as CMYK, with embedded ICC colour profile. I expect it looks the same as the PSD image, when viewed with the same software.

If you want to convert it to sRGB:

magick CRB17-009.psd[0] -profile sRGB.icc out2.jpg

... where sRGB.icc is some sRGB profile. That should look similar to the PSD image, but will not be identical due to the changed gamut.

CRB17-009.psd[0] also contains a clipping path. Do you want to apply that?

You’re running into two common PSD issues: CMYK color space and layer handling.

Since the file was created in Photoshop, it already contains a flattened preview as the first image. Instead of flattening layers manually, try extracting that directly:

magick CRB17-009.psd[0] -profile sRGB.icc output.jpg

The [0] grabs the flattened version, which usually avoids the gray/shifted color problem. Also make sure you're converting properly from CMYK to sRGB — just assigning profiles can cause color shifts.

If you want a simpler way to convert PSD to PNG or JPG without dealing with profiles and layers manually, you can try this online tool:
PSD To PNG

It handles flattening and color conversion automatically.

Let me know if you also need to preserve the clipping path.