M1 Pro Macbook Pro External Monitor Losing and Immediately Regaining Signal

I'm having issues with one of my external monitors (via HDMI) losing and immediately regaining signal, causing the monitor to go dark for a bout a second or 2. There does not seem to have any pattern in terms of time between and frequency of this happening, could be 5 minutes between occurrence or 2 hours.

I currently have 2 external monitors connected (both Gigabyte M27Q) one via usb C and one via HDMI. It seems that this issue only occurs with the HDMI connected one.

I've done a few things to try to isolate the problem:

• Tried different HDMI Cables and issue persisted (concluded it is not an HDMI issue)
• Tried the monitor with my older Macbook and issue did not occur with that Macbook (concluded it is not the monitor's issue)
• Booted up in safe mode (did not encounter any issue over a few hours, but can't be 100% conclude that the issue wouldn't occur as there is no pattern to its frequency)
• I've checked log in items given I did not see the issue in safe mode, but I have 0 log in items
• Tried creating a new user account, problem persisted in new user account

I'm at a loss at the moment. The apple customer service rep suggested for me to do a full reinstall of MacOS, but this would require me to do a time machine back up and I haven't gotten around to doing this yet.

Wondering if anyone has any ideas about this or if anyone has run into this issue. Would it be a software issue with MacOS or a hardware issue with my computer specifically?

Further reference:

• Model: Base model 2021 14" M1 Pro Macbook Pro
• OS: MacOS Monterey 12.1
• Monitor(s): Gigabyte M27Q 1440p @ 144hz

Any help would be appreciated, thanks.