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Yeah, you're getting 4K. The 1920x1080 that is "default" is Retina scaled so 1080x2.
I'm not 100% sure how scaled work but note it says "looks like" rather than is which I suspect it's charming a PPI multiplier to simulate the scale of different resolutions while using 4k pixels.
You could try this ap which makes things a bit clearer... http://easyresapp.com
Als oho into "about this Mac" > "Displays" from the Apple menu bar. -
Go to Apple Menu > About > System Report > Graphics/Displays. It'll give you two numbers "Resolution" and "Looks Like". The first is what's actually going over the wire to the monitor.
"Default for display" on my 4K is "Looks like 1920x1080", but it's rendered at 3840x2160 so you get nice hi-res text.
"Default for display" just goes to 1920x1080
I think I've managed to make it work with the option key on scaled resolution. But, it does appear to slow everything down quite a lot.