One trick I have found which is helpful is to define a hot corner (in the screen saver settings) that puts the display to sleep.
When you try to get the mac to wake up, but it does not wake up the screen, assume that it is actually awake and log in. That is, type your password blind and hit enter. If it wakes up the screen then, great. If not, move to the hot corner with the mouse, wait a second or two, and then move the mouse out of the hot corner. A lot of times this will wake up the screen for me.
If the screen comes up with the yellow/inverted/whatever color scheme, use the hot corner to sleep the screen, then wake it up again with the mouse. This is just as effective as unplugging/replugging the monitor cord, but without the wear and tear on the USB-C port.
I haven't really run into a situation where I actually had to reboot to fix it. Sleeping & waking the screen a few times has always worked.
Good luck, and along with everyone else I sincerely hope Apple has a fix for this in the pipeline.