Is it feasible to generate every possible RGB image? This topic is normally brought up in computer science as a demonstration of how to calculate permutations but it stops there since we usually end up calculating that there are more images of a decent resolution then that of all the atoms we estimate are visible in our universe.

This makes sense because an image of a decent resolution (like the image displayed your computer monitor) should be able to contain every picture imaginable, every frame from every movie ever made and never made. It would contain every correct and incorrect mathematical equation. Or even every book/webpage that will exist or can exist. It's intriguing to think it would be possible to generate every possible image because it contains all knowledge but also all anti-knowledge which means there is a lot of stuff to sift through including lots of random noise.

The only other research into this topic that I could find is this art project, where they wrote some code to generate all 15x10 pixel black and white images which is estimated to take approximately 46 quinvigintillion or 4.6x1079 years to complete.

So is it feasible to generate every possible RGB image (of a decent resolution)?
The number of such images is exponentially large in the dimensions of the image (even after taking into account symmetries), and grows enormous rapidly.  For all but very small images, no, it's not feasible to enumerate all such images within the lifetime of the solar system.  (There's something wrong with your reasoning if you've concluded it's reasonably possible to enumerate all such images.)