Apple TV app flicker (HDR?) MacBook Pro 16" 2019

I've ended up using safari instead of the Mac TV app to watch Apple TV+ shows due to a very distracting and sporadic display flicker. I'm guessing it's switching back and forth from dolby vision, HDR to SDR

macOS Monterey 12.0.1

optimized video on battery: off

automatic graphics switching: off

True Tone on: flickers

True Tone off: still flickers

Streaming from safari: No flicker

Flickr is visible when on battery and when using the power adapter

I am totally fine with using safari, my worries lie with the MacBook itself. Is the Flickr caused by a failing graphics card/is something broken?