Dell U3219Q 32" monitor - flickering/intermittently loosing USB-C/TB3 signal

It happens few times a day and the screen comes back after 2-3 seconds. I recently updated the firmware to "M3B106" which is the latest I can find for Mac. "M3B107" driver from Dell seems to be only available for Windows.

mac firmware - https://www.dell.com/support/home/us/en/04/drivers/driversdetails?driverid=ctf4v

In any case firmware update DID NOT resolve this issue and I'm not sure what else I should try. Monitor is connected to 2018 Mac Mini.