I have a similar setup:
Mac Mini M4 Pro with a Dell monitor.
I'd like to share how I fixed the flickering issue.
The flickering is acknowledged by Dell and other vendors like BenQ—even with newer monitors—as something they cannot resolve on their end.
The root cause is Apple's display controller, which applies temporal dithering by default to simulate smoother gradients, even on high-quality monitors. This causes not only discomfort for sensitive users but also severe flickering in some setups, leading to eye strain and usability issues. macOS offers no built-in way to disable it permanently. That would be very nice if Apple would implement this feature.
The solution:
To disable dithering permanently on a Mac Mini M4, you can use a tool like Stillcolor to override the display controller's default behavior and set it to launch at login. Without third-party tools, macOS does not offer a built-in method to persistently disable dithering across reboots.
I have installed the tool with brew. Have a good day.
[Edited by Moderator]