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Growing interest in the use of first-row transition metal complexes in a number of applied contexts—including but not limited to photoredox catalysis and solar energy conversion—underscores the need for a detailed understanding of their photophysical properties. A recent focus on ligand-field photocatalysis using cobalt(III) polypyridyls in particular has unlocked unprecedented excited-state reactivities. Photophysical studies on Co(III) chromophores in general are relatively uncommon, and so here we carry out a systematic study of a series of Co(III) polypyridyl complexes in order to delineate their excited-state dynamics. Compounds with varying ligand-field strengths were prepared and studied using variable-temperature ultrafast transient absorption spectroscopy. Analysis of the data establishes that the ground-state recovery dynamics are operating in the Marcus inverted region, in stark contrast to what is typically observed in other first-row metal complexes. The analysis has further revealed the underlying reasons driving this excited-state behaviour, thereby enabling potential advancements in the targeted use of the Marcus inverted region for a variety of photolytic applications.