Connection issues between Macbook M3 and Philips 328E 4K screen

As described in the title, I'm having issues with this set up in my Home Office. Have set up a Philips 328E 4K screen as an extended display in my home office, connected with a Macbook Air M3.

At start up or after a wake up the screen is recognised, but it takes minutes for the Philips screen to show an image and the screen starts flickering on and off a lot. Sometimes I even hear a pop on the back of the screen that almost looks like an electrical sound, but I think it is more related to the screen trying to get a correct set up done.

After a few minutes the Philips screen stops flickering and then all is good. After lunch, when the Macbook went to sleep, I have the same issues again after the wake-up. Sometimes it does work right away, but mostly is does not. It sometimes help to disconnect cables and put the monitor off and on again. But usually the issues are the same, the screen starts flickering on and off a lot and it takes a few minutes for the screen to start working.

Have used different high quality HDMI cables (connected via 2 different adapter) and now an HP Docking station. Issues remain the same.

I've set the resolution to the standard 1470 x 956 on the Max and 1920 x 1080 on the Philips screen + 60 hertz. Have been trying different settings as well, but have the same issues.

Anyone that can offer a resolution? I can't update the Philips screen and I don't think I can update drivers as well on Mac, right? Do I need to use another cable?