Glitchy screen and restarting iPhone XS

A while ago I dropped my iPhone XS in the pool and it became unresponsive and just kept restarting. I eventually got a new phone, but recently I decided to power up the old phone and it started working normally. The screen and everything on it functioned properly, but after a couple hours of use the screen would start glitching, flashing a pink/blue screen or green lines vertically and horizontally, before shutting off and begin to be stuck in the apple logo restart loop for a few minutes before powering up like normal and being completely fine again.

My question is, since there are no other apparent hardware or performance issues, or signs of having any, will a screen replacement solve my issue? I was thinking of going to a third party to get it fixed or doing it myself, but I wanted to see if this glitch is a sign of other component failures.

Here is an example of how the screen would look: